According to Solar Roadways (solarroadways.com/Cost_Analysis.htm), the average asphalt cost for roadworks in 2006 was roughly $16 per square foot.
That cost does not include maintenance costs of an asphalt road, which typically include asphalt pot hole repair, repainting lines, and snow/ice removal in cold regions.
According to their analysis, a typical one-mile stretch of two lane asphalt highway costs around $4 million and will last an average of seven years.
The costs are closely tied to oil prices, as oil products (and aggregates) are core to the asphalt making process and give the product its typical black color.
Municipal and state roads are typically bulk priced, meaning typical homeowners have to pay much more their smaller driveway and road paving projects.
This has to do with the fact that there are economies of scale to laying asphalt on a large scale and spreading the fixed costs of manufacturing asphalt to a larger base.
These fixed costs are present even for smaller projects, meaning there is a large base cost to each project, which covers the transfers of the asphalt crew, asphalt equipment, minimum amounts of asphalt that the asphalt plants need to produce to each project and so on.
On top of that, there are the variable costs, which increase the more there is work that needs to be done at the location.
From Asphalt Cost page to Asphalt Guide index