Cost: Same as a healing potion of the same level
Standard Action <> Range 5 (Can use long range like a thrown weapon)
Fire Keyword
Dex vs. Reflex
Hit: Deal the Limited Medium Damage expression from the DMG for the level of the item + Ongoing Fire 1 per level of the item (Save Ends)
So, your basic level 2 "Alchemist's Fire" should cost ~130 GP (520 GP/4) per vial and do 2d10+3 fire damage, plus Ongoing Fire 2 (Save Ends).
Other alchemical items are pretty simple, I think.
Fire - Limited Medium Damage, Ongoing Fire (Save Ends)
Frost - Limited Medium Damage, Slow (Save Ends)
Thunder - Limited Medium Damage, Push 1
Flash Powder - No damage, attack DEX vs. WILL, inflicts Blind (Save Ends)
Acid - Limited Medium Damage to a primary target, Secondary Attack of Damage Equal to Level of Item for each creature surrounding the Primary target
Tangle Bag - No damage, inflicts Slowed (Save Ends); if first save is failed, the target is Immobilized (Save Ends).
Done. These are basically on par with low level encounter powers.
For normal lamp oil, you could use the Normal Damage value as it is cheap enough to use over and over, so 1d10+3 or 1d6+3. It'd likely cost as much as any other disposable ammo, so a GP or two is fine. No ongoing damage, but it does give you the Fire keyword.