NEW YORK (CNNMoney.com) - In this week of contemplating all that we have to be thankful for, let's add one more to the list: falling gasoline prices.

For retailers, it couldn't come at a better time. The holiday gift-buying season is already geared up. Decorations are everywhere, and the sales circulars are screaming at shoppers to come in and snap up all the bargains and baubles they can.

The psychological boost of a drop in gas prices could help drive more people to the mall. For consumers, especially those with smaller paychecks, a dip in gas prices must surely feel like a chance to buy nicer presents for the kids without completely maxing out on the credit cards.

We all know that the things that are most precious, and for which we are most grateful, cannot be bought for any price. But at this time of year many of us love to decorate our homes, fill our refrigerators with delicacies, and pick out presents we know will delight.

Smaller bills at the gas pump mean fatter wallets to spend elsewhere -- perhaps even a chance to fatten up woefully slim savings accounts -- and that could go a long way toward making the season merry and bright.

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Kathleen Hays is economics correspondent for CNN. Read more of her columns here.