When I bought my first good bike 30 years ago, I had a couple of choices when it came to lubricants – 3 in 1 Household oil, or Tri-Flo Bike Lube. I opted for Tri-Flo and stuck with it. Over the years I’ve tried lots of different lubricants including Phil Wood, Pedros, and Finish Line. They’re all great in their own way, but I’ve never found a better all around bike lubricant than Tri-Flo. It’s also very affordable compared to some other bike lubes.
Tri-flo is a light oil that doesn’t attract dust and dirt. It’s also very long lasting. Put a drop on each chain link, work it in, then wipe off. It cleans and lubes at the same time, and smells nice. Since I started using Tri-Flo, I’ve never had to pull the chain off of my road bike to clean it in solvent. It also works great on derailleurs and brakes.
You might have to hunt around a bit to find Tri-Flo and not all bike shops carry it. You can also order it online at Amazon.