Glycerol is not an oil. Glycerol is also known as glycerol. Its chemical formula is C3H8O3. It is colorless, odorless, sweet in taste, and has a clear and viscous liquid appearance. Hydrogen and sulfur dioxide. Insoluble in benzene, chloroform, carbon tetrachloride, carbon disulfide, petroleum ether and oils, it is the skeleton component of triglyceride molecules.