Key Points
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Rising gas prices above $4.50 per gallon nationally create targeted investment opportunities in West Coast refiners, Permian producers, and shipping tanker operators.
As long as the Strait of Hormuz remains closed, these tailwinds will likely persist for certain energy companies.
Par Pacific Holdings, Diamondback Energy, and Scorpio Tankers each offer distinct exposure to elevated energy prices through crack spreads, crude output, and shipping rates.
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?
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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.
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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 Spreads
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…
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