6 Surprising Stocks Affected by High Oil Prices

By Reuben Gregg Brewer – Mar 22, 2026 at 7:15PM ESTKey PointsTravel companies like Carnival and JetBlue are facing higher operating costs.Shipping businesses like UPS and FedEx are already passing higher energy costs on to their customers.Consumer staples companies like P&G and Conagra will see ingredient prices and shipping costs rise.Oil prices are rising due to the ongoing geopolitical conflict in the Middle East. You are already seeing the impact at the gas pump, but it won't stop there. Rising oil and natural gas prices will ripple through the economy, hitting some obvious businesses and affecting others in ways you may not expect. Here are six stocks likely to feel the pinch. Traveling is going to get more expensive Carnival (CCL 3.37%) and JetBlue (JBLU 1.95%) are just two examples of many in the travel industry. Carnival's cruise ships use massive amounts of diesel fuel, while JetBlue's airplanes can't fly without jet fuel. Both are produced from oil. Image source: Getty Images. As fuel costs rise, Carnival and JetBlue are likely to see their margins compress. The solution to that is to increase prices or, at the very least, add fuel surcharges. If you have already booked and paid for your travel, you probably won't be affected. And it is likely that travel companies will delay price hikes for as long as possible. However, if oil prices remain elevated for a long time, companies like Carnival and JetBlue may have no choice but to pass along their higher energy costs to customers. ExpandNYSE: CCLCarnival Corp.Today's Change(-3.37%) $-0.84Current Price$24.10Key Data PointsMarket Cap$33BDay's Range$23.91 - $24.7552wk Range$15.07 - $34.03Volume798KAvg Vol23MGross Margin29.58%Dividend Yield0.62% Surcharges aren't new in the parcel delivery space Higher fuel costs will also affect parcel delivery companies such as United Parcel Service (UPS 0.51%) and FedEx (FDX +0.77%). While you only see the local delivery truck, these companies rely on an extensive network to ensure timely delivery. They own trucks, airplanes, and sorting facilities, among other things. All of these assets require energy to operate. Note that rising natural gas prices are likely to make electricity even more expensive to produce for utilities like Duke Energy (DUK 2.15%). Duke and other utilities will quickly pass those costs on to customers. And those higher electric bills will make it more expensive for UPS and FedEx to operate sorting machines. ExpandNYSE: UPSUnited Parcel ServiceToday's Change(-0.51%) $-0.49Current Price$96.07Key Data PointsMarket Cap$81BDay's Range$95.17 - $97.5952wk Range$82.00 - $122.41Volume378KAvg Vol6.5MGross Margin18.53%Dividend Yield6.84% Notably, UPS enacted higher fuel surcharges on March 2. FedEx did the same on March 16. While this helps to protect margins, it means that the customers of these parcel services are paying more. And that will likely mean consumers end up paying higher delivery charges, too. Consumer staples companies get hit multiple ways Rising shipping costs will hit consumer staples makers such as Procter & Gamble (PG 0.04%) and Conagra Brands (CAG 1.56%). But that's the end of the process; these companies will feel the pinch of rising oil and natural gas prices in other ways as well. For example, oil and natural gas are used to make the plastics that are used in consumer product packaging. They are used to make chemicals that get put into many consumer products, too. ExpandNYSE: CAGConagra BrandsToday's Change(-1.56%) $-0.24Current Price$15.16Key Data PointsMarket Cap$7.3BDay's Range$15.06 - $15.5052wk Range$15.06 - $27.68Volume24MAvg Vol13MGross Margin24.54%Dividend Yield9.23% Don't think that food companies like Conagra are going to miss out on the spike in ingredient costs. Natural gas is used to make fertilizer, so the cost of vital food ingredients is likely to rise along with energy costs. With consumers already tightening their budgets, it isn't clear how much leeway consumer staples makers have for passing on rising prices. However, they will likely attempt to protect their margins in any way they can. For example, selling less of a product for the same price, which is often called shrinkflation, effectively increases the price of the product. You will bear the brunt of rising energy prices The unfortunate theme throughout this quick overview is that companies will find ways to pass on their rising energy costs. Which means that customers like you will eventually end up paying more for everything from taking a trip to sending a package to buying your groceries. So, perhaps, the biggest surprise of all may be the impact rising oil prices have on your own wallet.Read NextDec 29, 2025 •By Reuben Gregg BrewerBetter Dividend Stock: United Parcel Service vs.

Enterprise Products PartnersNov 6, 2025 •By Jason Hall3 Dividend Stocks to Hold for the Next 5 Years and BeyondOct 10, 2025 •By Jason HallUPS Stock Bull vs. Bear: Turnaround or High-Yield Trap?Oct 9, 2025 •By Steven PorrelloShould You Buy United Parcel Service Right Now?Sep 24, 2025 •By Rick MunarrizShould You Buy the 3 Highest-Paying Dividend Stocks in the S&P 500?Sep 24, 2025 •By Lee SamahaIs UPS Stock a Buy Right Now?About the AuthorReuben Gregg Brewer is a contributing Motley Fool stock market analyst covering energy, utilities, REITs, and consumer staples. He is the former director of research at Value Line Publishing, where he rose from mutual fund analyst to equity analyst before leading all research operations. Reuben holds a bachelor’s degree in psychology from SUNY Purchase, a master’s in social work from Columbia University, and an MBA from Regis University. He has been featured as a financial expert on CNBC and in the Financial Times, Barron’s, and InvestmentNews.TMFReubenGBrewerStocks MentionedUnited Parcel ServiceNYSE: UPS$95.86(-0.72%)-$0.70Procter & GambleNYSE: PG$144.28(-0.39%)-$0.56Carnival Corp.NYSE: CCL$24.10(-3.37%)-$0.84JetBlue AirwaysNASDAQ: JBLU$4.03(-1.95%)-$0.08FedExNYSE: FDX$359.60(+0.98%)+$3.49Duke EnergyNYSE: DUK$126.95(-2.15%)-$2.79Conagra BrandsNYSE: CAG$15.16(-1.56%)-$0.24*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.