First of all, we all know that the economy has improved in the last couple of years. We see that home prices are rising in many parts of the country and this is having a direct impact on roofing material prices. As more homes are built the demand for roofing materials increases and that demand causes prices to increase.
Second, many roofing materials are made with petroleum products as the primary ingredient. Most composite shingles are largely made from petroleum products, or petroleum by-products, and as the cost of petroleum has risen over the last 12 months the cost of materials has risen accordingly.
- I had a recent conversation with a petroleum engineer who explained the reason for this. He said that if you had a barrel of oil most of it would be refined into fuel while the remaining “sludge” at the bottom would be the only portion that would be used for asphalt related products such as composite shingles. Due to recent innovations in technology that enable a greater position of the sludge to be converted into fuel there is less left over in the refining process.
- The fact is that improvements in the refining process have created a decrease in the supply of the cheap sludge that is used to manufacture composite shingles. This has forced shingle manufacturers to pay higher prices for the raw ‘sludge’ material that they use to make shingles, and of course they have no choice but to pass these higher prices along to the end consumer.
Third, this is the storm season in the United States. We have had at least an average, and maybe a little above average, number of storms this year and this is having an impact on the demand for materials and on labor.
Belton TX Roofing Company, President of Rhino Tuff Roofing, Bret Hannah, is a licensed contractor. Rhino Tuff Roofing has been in the roofing business since 1995. Rhino Tuff Roofing is an approved contractor for all insurance companies. Call Rhino Tuff Roofing in Belton TX at 254-933-2848