Consumers are feeling pain at the pump lately, and that hurt could soon spread to Wall Street.
According to the U.S. Energy Information Administration Report released at the start of the week, the price of a regular gallon of gasoline has spiked nearly 20 cents in the past two weeks alone.
And that’s not just mean reversion from lower-than-normal Fourth of July prices. As of today, a gallon will cost you $3.66 — also nearly 20 cents more than the price this time a year ago.
While this might be good news for oil majors like Exxon Mobil (XOM) and Chevron (CVX) — and maybe even for electric car-makers like Tesla Motors (TSLA) — it’s bad news for other companies that rely on strong retail spending. A higher price tag for gasoline, which is close to a necessity in our car-centric society, means less cash left in consumers’ pockets for other things.
Let’s take a look at five stocks that could feel the pinch from rising prices at the pump.