×

5 stocks to watch on low gas prices

Gas prices are sliding, and CNBC "Fast Money" traders believe some stocks will see big benefits.

The average gallon of gas cost $2.20 in the United States on Wednesday, the lowest since 2004, according to AAA. With fuel prices low for not only cars but also jets, airlines should enjoy a boost, said trader Pete Najarian.

"Delta and most of the airlines are doing very, very well with these fuel levels," he said.

Delta Air Lines planes at John F. Kennedy Airport in New York.
Getty Images
Delta Air Lines planes at John F. Kennedy Airport in New York.

He noted that Delta Air Lines hit a 52-week high earlier this week.

Trader Karen Finerman also sees upside for companies that benefit from consumer travel. Drivers should be more open to buying sport-utility vehicles with low fuel prices, and General Motors could profit, she said.

Read MoreOil price rebound in focus but gloom gathering

Other traders looked to oil refining stocks, which have performed well as exploration and production names have struggled. Trader Guy Adami pointed to Tesoro and Valero, which have jumped more than 50 and 40 percent this year, respectively.

Trader Tim Seymour likes Royal Dutch Shell. He said the company's European refining business could benefit from a weakening euro against the dollar.

Disclosures:

Tim Seymour

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

Pete Najarian

Long AAPL, AMAT, BAC, BMY, BP, CSX, DIS, DISCA, DKS, FOXA, GE, KKR, KO, MRK, PEP, PFE, PHM he is long calls AAPL, ABX, AIG, BEE, COP, DAL, DOW, ETFC, FB, FIT, FL, GILD, GPRO, JOY, LM, LUK, MRK, PBR, POT, SLV, SWFT, UA, UAL, WYNN, XLF, VZ, ZIOP, he is long puts EWW, FCX, MRO, TSLA

Karen Finerman

Karen is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, URI, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, DIS puts, FL, GOOG, GOOGL, GPS, JPM, KORS, KORS call spreads, M, M calls, M call spreads, M puts, MA, SUNE, SUNE call spreads, URI, URI long puts, her firm is short IWM, SPY, MDY, USO, XRT, Karen Finerman is on the board of GrafTech International.

Guy Adami

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