About $1,300 — that’s how much the average household has saved since mid-2014 thanks to the fall in gasoline prices, Federal Reserve Chair Janet Yellen said Monday.

Speaking at the World Affairs Council of Philadelphia, Yellen cited dropping oil and gas prices as positives for the economy because they boost household purchasing power.

For every dollar saved at the gas pump, individuals spent about 80 cents on other things, according to a report last October from JPMorgan Chase Institute.

In her speech, Yellen outlined several other positives — and some negatives — for the U.S. economy.

“The increase in employment over the past several years has contributed to higher household incomes and strengthening consumer confidence,” she said. And “rising equity and house prices have helped restore households’ wealth.”

Yellen expects consumer spending to grow at a “solid” rate and the housing sector to “make further progress,” partly due to low mortgage rates.

But Yellen, while overall remaining “cautiously optimistic,” also sees numerous potential drags on the economy.

Although lower oil prices have “likely been a positive influence on the U.S. economy overall, they also have had a negative side” because energy-sector employment has been hurt, and the effects have spilled over to businesses serving the energy sector.