Washoe County Readies Gas Price Hike

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RENO, NV - Washoe County residents can expect to pay more at the pump starting July 1st. "This is our Washoe County indexing, and it's going to be four, maybe five cents per gallon," explains Executive Director of Nevada Petroleum Marketers & Convenience Store Association, Peter Kruger. He says the tax initiative was approved twice by Washoe County voters, to cover the cost of road construction and maintenance.

Rising tensions in the Middle East have many concerned the price could jump even further. After President Obama announced Thursday morning that military advisers would be sent to Iraq, the price of crude oil jumped 46 cents per barrel. That jump isn't expected to be reflected at our pumps for a few weeks.

The good news, you're not likely to see a spike in your natural gas bill at home - because most of that is produced right here in the us. "The price of natural gas usually goes up when there's shortages in the winter," says Krueger "and it's never really been affected by this."