Lee Naylor's poor control helped set up Leeds for their first as he was robbed of possession by Frazer Richardson, who crossed for Lewis to fire home.
Kenny Miller lashed a volley onto the Leeds bar while home keeper Ian Bennett had to pull of some vital saves.
But ex-West Brom striker Hulse secured the points when he controlled, turned and rifled in a shot.
Wolves boss Glenn Hoddle:
"It is an irritation and is becoming a pattern.
"At Southampton we dominated and we got a draw, but we really should have won that game.
"And if that becomes a pattern then it's something I'll be concerned about. We could go out and buy a striker, but it's not always as simple as that."
Leeds: Bennett, Kelly, Butler, Gregan, Harding, Richardson (Healy 80), Einarsson, Derry, Lewis, Blake (Douglas 58), Hulse (Ricketts 75).
Subs Not Used: Sullivan, Kilgallon.
Goals: Lewis 8, Hulse 60.
Wolverhampton: Oakes, McNamara, Lescott, Edwards, Naylor, Olofinjana, Cameron (Clarke 69), Ricketts (Davies 59), Miller, Seol (Ndah 64), Cort.
Subs Not Used: Gyepes, Ikeme.
Ref: R Beeby (Northamptonshire).