Tampa, Florida -- Here's some good news on a Monday morning...gas prices are falling.
AAA says we're paying less for a gallon of gas than the same time last year for the first time in 2012. Decreased demand is attributing to the price decline.
The average cost of a gallon of regular gas in Florida is $3.795 compared to $3.875 (Tampa Bay averages: Today: $3.729 Last year: $3.835). The national average is $3.816 compared to $3.931 the same time last year.
Check out Tampa Bay's gas prices
AAA says the Energy Information Administration shows U.S. demand is down 4.2% from the same time last year. Demand in Europe and China is also down.
"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," said Jessica Brady, AAA spokeswoman, The Auto Club Group. "This is welcomed 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."