Not quite as clear-cut as that, Jno. Both lit and lighted are perfectly acceptable for the past tense of the transitive verb - it's just that lit's usage is more widespread than lighted.
I use lighted the candle/fire/blue touch paper etc, because I like to reserve lit for talking about getting on and off things such as trains/buses/ high horses etc..... but then again, I do like to think of myself as posh, despite a North kent origin (hehehehehehehe)