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Gas prices in Florida drop to 16-month low ahead of Christmas

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TALLAHASSEE, Fla. (The News Service of Florida) - Just weeks ahead of Christmas, gas prices in Florida are at a 16-month low according to AAA.

Prices have dropped daily for nearly two straight months, and Florida’s average of $2.34 is the lowest since August 2017.

The cost of fuel in Florida is 13 cents per gallon below the national average. The lower prices are attributed to high domestic oil production and supply, as well as a glut of fuel on the global market.

AAA spokesman Mark Jenkins says the falling prices will lead to substantial saving for Floridians traveling this holiday season.

“If you think back to earlier this summer, gas prices were around $2.92. Today, they are about 60 cents less than that," said Jenkins. "What that really means is that every time Floridians go to the pump, you are saving about ten dollars.”

The least expensive gas in the state can be found in the Tampa Bay area along with Orlando. The highest gas prices in Florida are in Panama City and Miami.

The dip in price may be short-lived, with OPEC and Russia planning to meet later this week to discuss cutting production.