A great deal of the time the commercial lip products contain too many additives to list. A HUGE offender for lip peeling are those with fish oil in them. Strangely enough, taking fish oil capsules is not the same and doesn't produce the same side effects. I suffered terribly all the time with peeling lips until I started using natural products.
I love the Hemp Organics products. They make lipsticks and stick lip glosses with decent colors. You can get them at Whole Foods and Wild Oats and other natural food markets.
Also remember, the skin is the largest organ in the body. It takes in more toxins than through your mouth. Would YOU really choose to use petroleum based products on it. Meaning, would you lather yourself in oil or gasoline? Of course not - but read the labels, likely you ARE!