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.
Filipino festival planned for Laxey
A huge celebration of the Island's Filipino community will take place in Laxey later this year.
Glen Maye requisition meeting scheduled
A requisition meeting will be held in Glen Maye next month.
Political satire is coming to the Gaiety Theatre in Douglas next week, just in time to poke fun at the general election.
Viking longboat races today
Viking races will finally get underway in Peel today - after a six-week delay.
Postal vote applications have to be in soon
Living far away but want to cast your vote in September's election? Time's running out!
Mum launches petition over university support
A petition's been launched calling on government to provide more support for Manx university students.
Bus services north and south face disruption later
Bus Vannin says a number of its services may face disruption this evening.
Wildlife Trust unveils woodland plans
The Manx Wildlife Trust has submitted a planning application for a new woodland in the northeast of the Island.
