Oil Prices Contribute to March Surge in Construction Materials Prices

Construction materials prices jumped in March and are now 4.8% higher year-over-year, marking the largest annual increase since January 2023. Rising oil prices are a key driver behind the surge in material costs.

“Construction materials prices surged in March and are now up 4.8% year over year, the largest annual increase since January 2023,” said ABC Chief Economist Anirban Basu. The post Oil Prices Contribute to March Surge in Construction Materials Prices first appeared on Construction Executive .

This story was originally published by Construction Executive.