News and Events
Roofing Asphalt Price Increase
As you have recently seen and heard, crude oil has closed above $66.00 for four consecutive days, gasoline prices have topped the unheard of $1.00 per litre and petroleum industry experts are predicting crude to top $70.00 per barrel in the next sixty days.
These events have now directly impacted the roofing industry and both Bitumar and IKO, the two Ontario roofing asphalt producers have announced a 16% price increase effective midnight September 18th, 2005. This increase applies to kegs and bags as well as bulk asphalt. Continued upward pressure on worldwide oil prices will lead to further increases throughout the Fall and we urge you to take this into consideration in your bidding and contract negotiations. It is expected too that high crude prices will have a ripple effect on all bituminous products such as roofing felts and modified membranes as well. Caution should be used when carrying numbers on these products beyond the standard 60 days.
Please do not hesitate to contact the undersigned or your Everest Technical Sales Person should you have any questions or if we may be of any assistance.