Sandy Fails to Pump Up Florida Gas Prices

While gas is rationed in New Jersey following Hurricane Sandy, the devastation left across the Mid-Atlantic and Northeast isnt pushing up gas prices across Florida and the Southeast.

The big reasons being that the area impacted isnt a major oil production hub, while Europe continues to struggle with its debt crisis which has decreased global demand, according to AAA.

"The good news is gas prices are forecast to continue their downward trend into the holiday season; however, Sandy's aftermath has left many Americans without power and the need for fuel," Jessica Brady, spokeswoman for The Auto Club Group, stated in a release.

"Gas prices in the Southeast fell an average of 10 cents from last week, causing each state but Florida to drop below year-ago levels.

In Florida, the average price of a gallon of regular gas sold for $3.43 as the week started, down 9 cents from a week earlier.

The drop in demand lowered the cost of a barrel of oil on the New York Mercantile Exchange to $84.86, down $1.42 from a week earlier.