Lower gas prices – how NJ residents are spending the cash they save
As the Memorial Day long weekend approaches, New Jersey drivers are paying a little more for gas than they did a few months ago, but with the average price for a gallon of regular at $2.51, gas prices are down $1 from this same time last year.
The result, for the typical New Jersey resident driving the typical car is a savings of about $700. So what's the extra cash being used for?
Shoppers along Route 1 in Mercer County have all sorts of ideas.
"I would probably say at least some of that money is going for groceries," said Kevin from Lawrence, "I like to eat and so does my wife, so yeah, groceries."
Another shopper said she would probably spend more on vacations, but "I didn't realize I was saving it so I think I already spent it on something else."
"I'm saving up for my kids college education," said another woman nearby. "But I'm also traveling and buying a little wine on the way."
George from Hamilton said he intends to put the money to good use.
"Probably eating out more, going to more restaurants," he said.
Other shoppers said they intend to save any extra money they have, or use to pay bills like daycare, and their credit cards.
"I'm paying my bills and paying my taxes and frankly that's all I can hope for," another man said.
One husband and wife said they would use the extra cash on their beloved animals.
"The dogs are eating a lot. We're taking them out and spending the money on them," the husband said.
Harold from Princeton had other ideas.
"I'm buying beer and ice cream," he said. "I'd spend it on beer, just beer, nothing but beer."
One shopper looked shocked at the question.
"I'll spend it on something else, that's for sure," he said. "I guess go out to dinner with my wife more often, and I took my daughter to an opera. I guess what it really means is the money doesn't run out quite so fast, so we just find something we like."
A mom with two young children said she use the extra money "to do things with the kids." Her 3-year-old son chimed in with his plans, saying, "the aquarium has a lot of fish with water."