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.
37 babies born at the Jane last month
A total of 37 babies were born at the Jane Crookall Maternity Unit in June, according to the latest figures.
Court rejects fraudster's freemason conspiracy claims
A man serving UK prison time for fraud and forgery isn't the victim of a shadowy criminal conspiracy involving Freemasons, a court has found.
Government working to refresh economic strategy
Enterprise Minister Tim Johnston says the government's been working hard to make sure it's economic strategy is keeping up with the latest events.
Drone ban for skateboarding championship
The Civil Aviation Authority says drones will be banned from the Mountain Road this weekend.
Pick it up plea from Castletown commissioners
Castletown commissioners have issued a plea to the ancient capital's dog owners.
New online Isle of Man guide for refugees and asylum seekers
An organisation which supports the rights of refugees has updated its website with a guide to legal assistance on the Isle of Man.
Lifeboat called to yacht's rescue
Ramsey lifeboat was called out to help a yacht off the Scottish coast last night.
Government reveals TT viewing figures
Just one in five people who sign up for the Department for Enterprise's TT streaming service pay for the live coverage.
