Is $3 Gas Going to Make Santa Claus More Generous This Year?

With average gas prices plunging below $3 a gallon for the first time in four years, Americans are keen to accelerate their spending amid newfound savings. But the confidence inspired by low prices at the pump stems more from the mere perception of calmer economic conditions rather than a significant ease on the average consumer's budget load. But even if psychological, this increased consumer confidence could bode well for the approaching holiday season. Expectations are already that holiday sales will jump 4% to 4.5% compared to last year, and with an outsized boost of consumer spending from low gas prices, Santa may treat you as if you've been extra nice this year.