> Petrol prices only falling by four-twelths when the crude price fell by nine-twelths suggests that petrol costs a lot on top of the crude price and that a 50% crude increase might lead to, say a >100% petrol price increase
Why? If petrol price is fairly inelastic to crude price (for reasons siblings note) that means it would increase a little, not a lot.
Why? If petrol price is fairly inelastic to crude price (for reasons siblings note) that means it would increase a little, not a lot.