The Georgia Department of Transportation (DOT) says inflation is driving up the costs of road projects. Many of planned projects are coming in more than 40% of projected costs. As a result, the Georgia DOT has rejected some high bids and is waiting on other projects, hoping that prices will come back down.
Inflation is heavily impacting the resurfacing of roads in Georgia. Prices of liquid asphalt is causing a lot of the cost overruns. The Georgia DOT says that the cost of liquid asphalt has more than doubled over the past year.
Georgia DOT officials said they took steps to lessen the state’s budget’s impact by rejecting those high bids and deferring major resurfacing projects for the last six months.
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