In a pot or Dutch oven, melt one tablespoon of butter and one tablespoon of olive oil. Saute the minced garlic for 30 seconds. Add the flour and cook for one minute. Mix in the tomato paste, Italian seasoning, onion powder, and mustard powder.
Whisk in the chicken broth until no lumps remain. Pour in the half and half and bring to a boil. Reduce the heat to simmer. Stir in the diced tomatoes and cream cheese. Simmer until the cream cheese is dissolved. Season with salt and pepper.
While the sauce is simmering, cook the ravioli according to package instructions. Drain and gently stir them into the sauce. Serve while hot with freshly grated parmesan cheese on top.