I'd say paraffin oil, lamp oil, and kerosene all have about the same fire hazards. The ultra-pure (as marketed) lamp oil to me seems like it isn't worth the higher price than that for paraffin oil for essentially the same effectively clean burning flame. Maybe it doesn't soot out as bad as paraffin, but I find that simply adjusting the wick keeps my chimneys fairly soot free.

Of course, nothing is as nice to me as my dual fuel coleman lanterns. They are more complex and can be temperamental, but they sure put out a nice light.