Gas below $3 could be days away, heralding the end of today's white hot inflation — here are 3 stocks Goldman Sachs likes to capitalize on falling prices

Patrick De Haan, head of petroleum analysis at fuel price tracker GasBuddy, sees the trend continuing as Americans prepare to hit the road for the holidays.

In a recent Fox Business interview, the host asked De Haan whether the national average price of regular gas could drop below $3 a gallon.

His answer was positive.

“I think that certainly looks like a very good possibility here, probably as early as December 23,” he said.

And since rising gas prices drove up inflation earlier on, falling gas prices might help bring it down.

“This is where there’s some deflation happening,” De Haan added.

De Hann is not the only one seeing inflation slowing down. Goldman Sachs strategists have a similar view.

“Our economists expect by early 2023 it will become clear that inflation is decelerating and the Fed will reduce the magnitude of hikes and eventually cease tightening,” Goldman Sachs chief U.S. equity strategist David Kostin wrote in a recent note to investors.

The investment bank also identified a list of stocks that tend to outperform in a falling inflation environment. Here’s a look at three of them.

AT&T (T)

Let’s start with a household name.

AT&T is one of the largest telecommunications companies in the world. More than 100 million consumers in the U.S. use its mobile and broadband services. At the same time, the company also serves nearly all of the Fortune 1000 companies with connectivity and smart solutions.

And because wireless and internet services are essential for the modern economy, AT&T generates recurring business through thick and thin.

The company pays quarterly dividends of 27.75 cents per share, translating to an annual yield of 5.8%.