If it isn't too bad, beat it back in shape with a hammer, weld some more material on it to close it up and, as freebeard suggests, go get it an alignment.
It's probably "too bad", but just in case it's not...
My automatic Echo gets about 35mpg in it's short (10 mile) mixed commute. She's probably good for closer to 50mpg pure highway(55-60mph) with a warmed up engine. Unmodded.
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