Southeastern Louisiana, the state where the Deepwater Horizon oil spill occurred in 2010, has the highest average monthly rate of asphalt paint costs in the country, according to a report from the Federal Reserve Bank of Atlanta.
The study analyzed average monthly asphalt costs for more than 100 U.S. metropolitan areas from 2005 to 2010, which is a period when the average annual gasoline price has more than doubled.
In Houston, Texas, the average monthly cost of a gallon of regular gasoline rose to $1.07, up $1 from 2003.
In Memphis, Tennessee, the monthly average cost of gasoline rose $1 to $2.16.
In Boston, Massachusetts, the rate of monthly average costs rose to an average of $3.35, up from $3 in 2003.
“The price of asphalt is higher than the cost of gas and is a big contributor to the higher costs of transportation and heating,” the report said.
“It also affects the cost to produce asphalt, which in turn affects the costs to install and maintain roads.”
The report notes that the average cost per mile for a gallon in Southern Louisiana, Louisiana’s third-largest metropolitan area, is $3,928, which compares to $3 for a comparable gallon in the Northeast or Midwest.
In the Houston area, the cost per gallon is $1,821, which means the average price of an asphalt-painted roadway is $5,000 per mile.
SOUTH LOUISIANA ISLANDER TOO FAR OUTSIDE OF THE HILLS To be sure, Louisiana is not the only state where average monthly costs of asphalt are more expensive than those in other states.
The report notes a number of metro areas in the South and Southwest, including Atlanta, Phoenix, Tucson, Austin, and New Orleans, which have average monthly paint prices that are over $1 million.
In Austin, Texas — home to a number large oil refineries — the average yearly average cost is $7,086.
In Phoenix, Arizona, the annual average price is $6,894.
In New Orleans Louisiana, average monthly average paint costs are $1 and $1 per gallon respectively.