I already got this problem on my 88 GT. This was a hole in the hose from the charcoal canister. The problem was a little hard to find because the hose wasn't cut.
My car is a 60k mile and this hose is not protected. To access it i just had to remove the screws who's attaching the plastic cover in the passenger left fender. Just lower the 5.0 badge.
You'll see two or three hose. The one we're looking for is in plastic. The hole is made because the hose is scratching on the frame. Straight on the join of the firewall and the floor.
Hope this help.
(p.s. Maybe i could get pics tomorrow. )
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