Be thankful for lower gas prices

Nearly $700 million may be saved at the gas pump by folks hitting the road over the Thanksgiving holiday weekend.

Gas prices in New Jersey, and across the country, are substantially lower than where they were a year ago.

The average price for a gallon of regular gasoline in the Garden State could drop to $2.70 by Thanksgiving Day, according to GasBuddy.com, and that would be more than 40 cents cheaper compared to the same time last year.

While most travelers' holiday plans are already set in stone, more than 16 percent in a GasBuddy survey said their plans are getting a makeover due to lower gas prices.

"Perhaps instead of having the family gathering at a neutral place very nearby, they may be going to grandma's house 50 miles away," said Patrick DeHaan, senior petroleum analyst for GasBuddy. "In fact, I would say that more people are ditching the plane tickets this year and hopping in the car. The cost savings is staggering."

The same survey found that 31 percent of road travelers will be covering more than 500 miles round-trip over the holiday weekend, and every fill-up will result in significant savings.

More than 70 percent of the 81,000 Americans surveyed said they expect to spend less overall on Thanksgiving this year.