Oil and gasoline are up, but large-cap energy stocks are lagging


If you've filled up your gas tank recently, you've probably noticed one of the familiar downsides of summer: higher prices at the pump. The average price per gallon of regular, self-serve gasoline hit $2.49 last week, up 40 percent since the first week of January.

The sharp spike has mimicked the rally underway in light crude, which is now above $70 per barrel after touching prices in the $30s at several points earlier in the year. Bespoke Investment Group notes the unusual combination of magnitude and speed behind this move, saying that "the current rally in oil [has] nearly twice the average bull market gain in nearly half of the average duration."