It's an expense homeowners must face eventually, however tight the household budget: roof replacement.
Those who find themselves needing new shingles this roofing season may be surprised to find prices rising even though the home-renovation market has slowed and petroleum costs less than it did last summer.
The price of asphalt shingles, which cover the vast majority of houses in the United States, rose 57.5 percent from March 2008 to this past March, according to the federal Bureau of Labor Statistics' Producer Price Index. This year, it went up 3.8 percent from February to March alone.
Soaring petroleum prices last summer accounted for much of the rise in asphalt shingle costs then. Asphalt is derived from crude oil.
But this year, there may be a surprising factor at play: Asphalt is most in demand for roadwork, and government attempts to revive the struggling economy include an infusion of money for roads.
Manufacturers said roofing-shingle prices rose in March ''due to the shortage of asphalt, and asphalt, it's a little hard to come by. They're expecting a big rush on the asphalt because of the stimulus package and roadwork,
Those who find themselves needing new shingles this roofing season may be surprised to find prices rising even though the home-renovation market has slowed and petroleum costs less than it did last summer.
The price of asphalt shingles, which cover the vast majority of houses in the United States, rose 57.5 percent from March 2008 to this past March, according to the federal Bureau of Labor Statistics' Producer Price Index. This year, it went up 3.8 percent from February to March alone.
Soaring petroleum prices last summer accounted for much of the rise in asphalt shingle costs then. Asphalt is derived from crude oil.
But this year, there may be a surprising factor at play: Asphalt is most in demand for roadwork, and government attempts to revive the struggling economy include an infusion of money for roads.
Manufacturers said roofing-shingle prices rose in March ''due to the shortage of asphalt, and asphalt, it's a little hard to come by. They're expecting a big rush on the asphalt because of the stimulus package and roadwork,
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