Fuel cost is generally about 1/3 the price of operating a passenger car, so your math is pretty off. But the point still stands, prices are artificially high and enrich a ton of the wrong people.
The system is broken.
Not saying there aren't any inefficiencies or that there isn't established-player protectionism at work, just pointing out that a lot of the cost estimates floating around in this thread are clearly hugely inaccurate.