Roofing Shingles Prices are Going Down!
A big Roofing Materials Corporation has decided to drop prices for its popular line of Asphalt shingles by as much as 40% due to a significant decrease in the price of crude oil.
As of today WTI is under $48 / barrel and Brent is just around $55 / barrel.
Because petroleum byproducts are the main and most expensive component in manufacturing asphalt shingles, the company can afford to decrease the cost to consumer, while still making good profit margins.
Why is This Happening?
This move is seen by analysts as a big push by the company for complete market dominance.
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