(Bloomberg) -- High fuel prices are likely to stick around even if oil prices drop in the coming months as the wars in Russia and Middle East leave global refining capacity critically short, ExxonMobil Holdings Corp. and Chevron Corp. warned. Most Read from BloombergGasoline, diesel and jet fuel prices typically rise and fall with crude oil. But that link is growing tenuous because so many refineries have been knocked offline, causing fuel prices to remain stubbornly high and accelerating inflation even as oil falls. "The constraint pain point in the energy system is refining," ExxonMobil Chief Financial Officer Neil Hansen said in an interview. Retail diesel prices are just 6% below their highs this year even though the drop in WTI has been four times as much.