Rising prices at the gas pump will likely hurt cigarette demand, according to Barclays analyst Gaurav Jain.
will likely be among the companies who see falling demand tied to higher oil prices.
"The trend seems to suggest that as consumers saved more money at the gas station and went to the attached convenience store, they bought more cigarettes . Now as oil prices move higher, the reverse could happen," he wrote in a note to clients on Thursday. Yet, while CEOs of consumer packaged-goods companies say they haven't seen consumers opt for cheaper alternatives
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