I think your treating increasing oil prices too simply. In my opinion its much closer to the way money injected in our fiat fractional reserve banking system works with one dollar of high power money resulting in a 9 dollar increase in the money supply.

So By increasing the price of oil by 30% you get say closer to a 60% hit on the price/economic side.

The problem is this revenue is declining in purchasing power because of higher prices since increasing oil prices have a inflationary effect. The direct dollar from higher prices buys less and it buys less for their supplier etc etc.
So assume in general in business supply chains are 3-5 companies deep. At each exchange you get a 30% increase.
So its 30%*30%*30% etc.

So
1 dollar -> 1.30 -> 1.68->2.17

And indeed we have seen the prices for a broad range of commodities come close to doubling over the last few years so this is probably not that far off. The reason I think it works this way is everyone is paying for the direct increase in oil prices and for the indirect increases passed on by their suppliers. So your paying for all the oil used through the whole production chain. In effect its a sort of double charge as cost are passed on. Sure profits are lowered but at the end of the day the final consumer has to pay for every drop of oil used in the manufacture of a product.
The numbers I'm using are high and it depends on the amount of oil input needed to create and move a product etc bu athe point is that higher prices for oil ripple through the whole economy causing direct and indirect price increases not just direct costs.

The oil industry is not immune and its costs increase in line with the increase in oil prices.