Steel prices cited in soaring highway construction costs

Oct 11, 2007 | 10:20 AM | Rory Carroll

Highway construction and maintenance costs nationwide from 2003 to 2006 grew about three times faster than their fastest rate during any other three-year period between 1990 and 2003, according to a report by the U.S. Department of Transportation (DOT).

"These increases are largely the result of escalation in the costs of commodities used in highway projects, such as steel and asphalt, and reflect structural, not transitory, economic changes," the DOT report said. "Consequently, we expect these commodity costs to remain elevated and possibly continue expanding in the near term."....

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