1 Asphalt driveway paving costs $2-$6 per square foot installed. 2  For a 500 square foot (50 x 10) driveway this works out to an average cost of $2500. 3  A Macadam driveway, also known as tar and chip, consist of crushed stone or gravel sprayed with liquid asphalt.4  They cost around $2-$5 per square foot. Total driveway paving cost will vary from region to region consistent with local material and labor costs. 2  Most gravel driveways are made of crushed stone or gravel which costs about $25-$30 per ton plus $100 or so for delivery per load (the average dump truck can handle 13 or so tons.) For a small, 15 ft.