Office of Fair Trading chair Tim Glover says heating fuels on the Island are made up of a variety of factors - but there's no formal price regulation.
He was responding to a question for written answer from Arbory, Castletown and Malew MHK Jason Moorhouse.
He wanted to know how the fuel price is set - Mr Glover said companies buy oil based on its commodity price set internationally.
But he added there are also built-in costs for tax, shipping, storage and depot costs and distribution.
Stay safe for Hop Tu Naa tonight
Police are asking trick or treaters to make sure they can be seen tonight.
Special Olympics fundraiser needs you
A organisation for athletes with learning disabilities has raised more than £17,000 to compete at a global competition in Chile next year.
Peel ready for bonfire and fireworks later
Peel kicks off the Island's bonfire night fun tonight with its fireworks display.
Government: "UK never told us about child murderer"
The government says it'll write to the UK demanding to know how a convicted child murderer ended up living on the Isle of Man.
Farm shop's newest worker needs your name suggestions
A farm shop in Glen Helen is asking you to name its newest member of staff.
Bus Vannin gives update on staffing problems and routes affected today
Bus Vannin has revealed more details about buses which may not run today.
Toilets vandalised for fourth time in a month
Commissioners in the west of the Island are appealing for help catching those who vandalised toilets this week.
Poppy gets fur-ever home after sparking rescue operation in Douglas
A tiny Manx kitten who was rescued in Douglas city centre has been given a happy ending.
