Pump Prices Fall in Florida as Demand Drops for Gas

A drop in the global demand for fuel has helped the price dip to a price that motorists havent seen since 2011, according to AAA.

Floridians began the week paying an average of $3.80 for a gallon of regular gas on Monday, down 8 cents on average from a week earlier, 13 cents less than a month ago, according to AAA.

"Since the start of the year, 2012 broke daily, weekly and monthly records for the highest price averages at the pump, but now the tables have turned and prices are below last year's level," Jessica Brady, AAA spokeswoman, stated in a release.

"This is welcome news to motorists who heard rumors of $5 to $8 a gallon gasoline by summertime. While there's always the possibility prices will climb back up, in the short term gas prices are expected to decrease further as we enter May. If gas prices do continue to fall throughout the month of May, we could definitely see an increase in the number of Americans traveling for the Memorial Day holiday weekend."

Just to the north, motorists in Georgia were paying $3.69 a gallon on Monday.

The national mark stood at $3.81 on Monday.

According to AAA, "the Energy Information Administration noted U.S. gasoline demand is down 4.2 percent from this time last year. In addition, China, the world's second largest oil-consuming country, has seen its demand numbers drop to the lowest level since October. Europe is no different, as the debt crisis has caused fuel demand to steadily decrease since last year."