diff --git a/src/ReferenceContext.php b/src/ReferenceContext.php
index 3d824a63..bde0a964 100644
--- a/src/ReferenceContext.php
+++ b/src/ReferenceContext.php
@@ -115,14 +115,16 @@ private function reduceDots($path)
     {
         $parts = explode('/', ltrim($path, '/'));
         $c = count($parts);
+        $parentOffset = 1;
         for ($i = 0; $i < $c; $i++) {
             if ($parts[$i] === '.') {
                 unset($parts[$i]);
                 continue;
             }
-            if ($i > 0 && $parts[$i] === '..' && $parts[$i-1] !== '..') {
-                unset($parts[$i-1]);
+            if ($i > 0 && $parts[$i] === '..' && $parts[$i - $parentOffset] !== '..') {
+                unset($parts[$i - $parentOffset]);
                 unset($parts[$i]);
+                $parentOffset += 2;
             }
         }
         return '/'.implode('/', $parts);
diff --git a/tests/ReferenceContextTest.php b/tests/ReferenceContextTest.php
index 92d9d93e..b06eb5fc 100644
--- a/tests/ReferenceContextTest.php
+++ b/tests/ReferenceContextTest.php
@@ -183,6 +183,10 @@ public function normalizeUriProvider()
                 '/var/www/api/../definitions.yaml#/components/Pet',
                 'file:///var/www/definitions.yaml#/components/Pet',
             ],
+            [
+                '/var/www/api/foo/../../definitions.yaml#/components/Pet',
+                'file:///var/www/definitions.yaml#/components/Pet',
+            ],
         ];
 
         return $data;