After oil prices slid again Tuesday, some "Fast Money" traders contended retail and consumer stocks could benefit.

West Texas Intermediate crude dipped below $30 per barrel on Tuesday, touching its lowest level since December 2003. Retail stocks could be a "beneficiary" of lower oil and gas prices, said trader Karen Finerman.

She pointed specifically to Michael Kors and Macy's.

Trader Tim Seymour would also look to trade the consumer with stocks like Kimberly-Clark, Kellogg and Mondelez International.

Meanwhile, trader Guy Adami looked for upside in battered oil giant Exxon Mobil, which he said had "potential" to positively surprise when it reports earnings.

Disclosures:

Karen Finerman

Karen is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, SEDG, SPY calls, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, FL, FL calls, GOOG, GOOGL, JPM, KORS, LYV, M, MA, MOH, PLCE, URI, URI long puts, WFM, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International.

Tim Seymour

Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO.

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc.

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.