Gas prices fell last year and are forecast to fall even more in 2014. That’s great news for, well, just about everyone. It puts more cash in consumers’ wallets, a good chunk of which gets spent at the nation’s retailers. It also helps any company that buys a lot of gas.
AAA and GasBuddy.com project gas prices to be cheaper by about 10 cents per gallon in 2014. Last year, the average price of a gallon of regular gas was $3.49, down from $3.60 in 2012 and lower than the $3.51 seen in 2011, according to AAA.
As much as lower gas prices are a boon for consumers and businesses with high fuel costs, the drop in gas prices is all relative. For most of the last decade, the average price of a gallon of regular gas was well below $3.
Still, there’s no question lower gas prices are good for the economy. Consumers are able to spend the savings elsewhere, while companies catch a break on the cost side of things, which helps profitability.
With that, here are three stocks that will benefit from the continuing slide in gas prices: