It'd probably work. If you look for information on "mineral oil" you might have a little better luck on finding the information you're looking for. It's the US name for paraffin oil. There is some use of mineral oil in whistle fuels. I'm not too up to date on it, but for a while it was being used in nozzleless rockets as well. It does slow the fuel down a touch, but does have the added advantage of keeping dust down while pressing.