Last Sunday's surprise announcement that OPEC will widen crude oil production cuts to 3.66 million barrels per day has already pushed crude prices up by $5 per barrel. These cuts will start in May and last through the end of the year, carrying with them potential global pricing effects.

And with summer right around the corner, consumer demand for gasoline and other petroleum-based products is certain to rise. These rising oil prices could bolster inflation, adding pricing pressure for raw materials and freight costs to manufacturers across sectors of the roofing industry. 

While it is hard to know definitively the future net effect of these factors on asphaltic building material prices, the writing appears to be on the wall. As a valued partner we want to help keep you informed of the trends and in front of potential increases. 

Please take this opportunity to reach out to your local sales representative to confirm pricing for April, as increases appear likely in the coming months. Also, please feel free to contact me directly. 

Sincerely,

Bud Polston
EVP Sales & Marketing