$1.89 doesn't sound like much but when you think about a 757's normal load being 10,000 gallons, things start to add up ;) Or a 777 taking about 42,000 gallons, etc.

One thing to note, as oil prices go higher and higher, the oil companies (especially the downstream part of the industry, refineries, etc.) will either lower production of jet fuel (unlikely) or hike the price to compensate.

Refineries do not make money for the oil companies, well much that is (the upstream sector is the moneymaker) so the jumps in price make the heads turn. The oil companies think to themselves "well, we'd make a lot more money if we just sold the stuff to someone else"