For the past six years oil prices have climbed causing rise in costs for many products and services. The cost of installing asphalt has become especially more expensive due to the fact that oil is used in every step of the process.
• Asphalt material contains tar (oil)
• Fuel (oil) heats the asphalt to 300 degrees.
• Diesel fuel (oil) transports the asphalt to the sight
• Fuel (oil) runs the equipment that installs the asphalt.
A change in any oil price affects the final cost of asphalt parking lots. What does that mean to you? The asphalt you're standing on has become more valuable than when it was installed.
• 2005: asphalt - $29.50/ton diesel - $1.96/gal. gasoline - $1.75/gal.
• 2008: asphalt - $65.00/ton diesel - $5.00/gal. gasoline - $4.00+/gal.
• 2011: asphalt - $57.00/ton diesel - $3.99/gal. gasoline - $3.45/gal.
A 50,000 sq. ft. parking lot installed with 2" of asphalt in 2005 would have cost $30,246. The same 50,000 sq. ft. parking lot installed today would cost $62,000. Your parking lot value has more than doubled. If only the rest of our investments increased that much.
I know your looking at your parking lot and thinking, "This tired old thing?" Yes, that tired old thing! Asphalt prices have increased so much that instead of heaping old asphalt into landfills, asphalt producers will take your old asphalt that still contains embedded tar, grind it up and put it in new asphalt. Over 75% of all old asphalt is recycled in the U.S. — that's the highest recycle rate for any material including aluminum. That's your money you're standing on, and you need to preserve and conserve your investment.
Preserve and conserve?
Proper asphalt maintenance on your existing property is like putting money in the bank. An example: new asphalt left alone, with no maintenance, can last 10-15 years. Asphalt maintained on a regular basis will last 20 to 25 years. Cracking asphalt or potholes caught early, while they are small, are far less expensive and slows the detioration of the existing surface. Grey asphalt is a result of the sun evaporating the tar. Sealcoating helps preserve the tar and keeps your asphalt more elastic, which slows down the cracking.
When the day does come to resurface your parking lot, the preservation of your existing parking lot will pay off. Another example: if you take that same 50,000 s.f. parking lot, pay to rip it out and put in 2" of new asphalt, it would cost over $100,000. If you have been preserving your 50,000 s.f. parking lot you only need to resurface 1.5" of new asphalt on top of your existing asphalt, it would only cost $46,000. That's a $55,000 savings and you'll have a stronger parking lot because you're adding 1.5" of new asphalt over the existing 2" surface. That's 3.5" of stronger asphalt for less money…preserve and conserve!
So the next time you walk to your car, remember that's your money you're walking on. You should do everything you can to keep it.
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Thermo Asphalt Repair puts quality in a business you might otherwise take for granted. They also give knowledge to the client that other asphalt companies take for granted. Don't get taken for granted... Do business with Thermo Asphalt Repair. Striping, Asphalt Repair, Pothole repair for area businesses and residences in Dayton Ohio. http://www.thermoasphaltrepair.com
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