Northern Nevada briefly

Nevada gas prices down to $2.17

RENO (AP) " Gas prices have increased 3 cents a gallon over the past month in Las Vegas and most of Nevada to a statewide average of $2.17 a gallon. But motorists in Reno have enjoyed a 6-cent drop at the pumps during that period while those in Sparks saw an 8-cent decline.

AAA Nevada spokesman Michael Geeser said Tuesday Reno actually was 6 cents higher than much of the rest of the state in February so the 6-cent decline puts the city right at the statewide average for March. In Sparks, the average price is now $2.15 a gallon.

Nevada is now tied with Washington state for the second highest average in the country among the Lower 48 states, trailing only California's average of $2.20 per gallon.

The highest price outside of Alaska and Hawaii is Tahoe City, Calif., at $2.60.

The national average is $1.94, up a penny from the month before.

Other Nevada averages: Carson City, $2.15, unchanged; Elko, $1.86, up 8 cents; North Las Vegas, $2.15, up 3 cents; Henderson, $2.17, up 3 cents.

"Despite oil prices moving higher, retail gas prices have yet to take off," Geeser said. "That's good news for consumers considering spring is usually the time of year where we see gas prices increase due to the reformulation process at California refineries."

Oil prices could still move higher, Geeser said. OPEC has suggested that it may agree to more production cuts when it meets on March 15. OPEC has already cut production by 4 million barrels a day since September.

Median home price in Vegas half June 2006 level

LAS VEGAS (AP) " A report by the Greater Las Vegas Association of Realtors put the median home price in Southern Nevada at $155,603 in February, or less than half the peak level of $315,000 in June 2006.

But Association President Sue Naumann on Tuesday called it encouraging to see more homes selling each month.

Naumann says bank-owned properties accounted for three-quarters of all home sales in February. She says foreclosure sales are forcing home prices down.

The organization tracks single-family homes sales on the Multiple Listing Service.

It says the 2,268 homes that sold in February represented a 2.9 percent increase over January.

The February median home price was down 2.7 percent from January, and down 36.9 percent from February 2008.