The obvious place to look is where Vaseline got its name, since that may be the first commercial use of that suffix. The Wiki for Vaseline says that it was a combination of the German "wasser" meaning water, and the Greek Îλαιον (pronounced "elaion") meaning olive oil.
Vaseline was introduced as a brand in 1872 while Valvoline was trademarked in 1873. I figure that's about as good an answer as any.