A spray can of Ballistol is mineral oil with two added chemicals that provide the propellant and cleaning power: propane and iso-hexane (white gasoline).
Until the propane and iso-hexane disperse, it is highly flammable. Once they are gone what you have left is mineral oil.
The fact that it works great and is convenient does not change that it is an expensive way to clean your gun with white gas and lube it with mineral oil. If you read the labels carefully, there are a few popular cleaners and lubes, and most of them work OK. The range of prices is huge, depending on packaging and "snake oil" promo.