3 Stocks to Own If Gas Prices Keep Rising

Summary

For those who commute to work, driving by the first gas station of the day may now be a constant source of anxiety. The national average has quickly surged past $4.50 per gallon, a shock to consumers who had been paying less than $3 per gallon as recently as January. With no end to the Iran war in sight, $5-per-gallon gas seems inevitable, and U.S. consumers will be forced to make difficult travel choices this summer. Investors also have to make some decisions; if gas prices continue to rise, which stocks are best prepared to benefit?Get Diamondback Energy alerts:Sign Up Hint: it requires a strategy more complex than just a portfolio of large-cap energy stocks. The energy industry has been one of the best-performing market sectors in 2026, trailing only tech following the explosive semiconductor rally. But not every energy company benefits from high gasoline prices. Investors will want to diversify their holdings across different areas of the sector that have outsized exposure to gas prices. Three types of companies span businesses that capture this edge: West Coast refiners, Permian shale producers, and shipping tanker operators. Par Pacific Holdings: Small-Cap Refiner Benefitting From Widening Crack SpreadsPar Pacific Today$58.33 -1.85 (-3.08%) As of 05/15/2026 03:59 PM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$19.28▼$70.39P/E Ratio6.51Price Target$67.00 The Pacific Coast has the highest retail gasoline prices in the United States, so that’s a great place to look for refiners that benefit from wide crack spreads. California gas prices have already breached $6 per gallon, and the region was already undersupplied before the war broke out. One of these beneficiaries is Par Pacific Holdings Inc. NYSE: PARR, a small-cap refiner that operates several facilities across the Pacific Northwest and Hawaii. Despite a market cap of just over $3 billion, Par Pacific generated more than $7 billion in sales in 2025, and soaring crack ...