Rising oil prices are affecting the U.S. 60 widening project in Monett. The chair of the city’s Tax Increment Financing Commission says the project’s contract includes a clause on asphalt charges, which are based on the price of oil.

Mark Nelson says when the project was bid, asphalt was selling for $210 to $220 a ton. Now the cost is close to $600 per ton. That’s added a half million dollars to the cost of the project.

Nelson says discussions between the city, Mo-Dot and the contractor have been productive in finding cost-saving measures, such as reducing the amount of asphalt placed on the main roadway. The discussions have resulted in about $300,000 in savings.

Nelson says an additional problem is the result of refineries trying to process more gasoline and diesel from crude oil. Asphalt is made from the heavy oil left after the refining process. The more refining done, the less asphalt oil is left, adding to the price.

The U.S. 60 project is expected to be completed by mid-December.