If you’re hiring a paving contractor for asphalt repair near you, you may hear them mention the asphalt index. What is this and why is it important? SMI Paving has the answers. Here’s what we tell our commercial paving clients in Rock Hill, SC and Charlotte, NC.
- What is the asphalt index? The asphalt index is a third-party calculation of the general cost for asphalt material. It was created to provide a broad idea of the cost for materials at the start of a paving project and again to calculate the final cost based on the amount of materials used.
- How is it calculated? The index is calculated by the Department of Transportation and is updated monthly. The index prices stem from the set price of liquid asphalt, which depends on the current cost of oil.
- How does it help you? Since the volatility of oil prices affects the cost of asphalt materials, the asphalt index helps both asphalt contractors and consumers. by eliminating any guesswork. Asphalt contractors can deliver a more accurate estimate of what the cost of materials will be.
When you need asphalt repair near you, call SMI Paving for a free estimate. Our commercial asphalt paving company is dedicated to giving you the best results at reasonable prices.