Yes, there is… but not just any oil lamp. We are meant to light an earthen oil lamp during our prayers or performing any spiritual austerities, i.e. sadhana.
The cotton wick indicates our ego. It burns because of the oil in the lamp. This oil is the accumulated soul-actions and soul-tendencies (i.e. karmas and samskaras), which compel us to perform more action. If this oil is pure and of high quality, then the wick will glow brightly. If there is impurity in the oil, then the flame will be dull… in the same way, if we have challenging or negative karmas then our life here will not be able to exhibit the full glory of our true divine nature.
It is not surprising that in Jyotish (Vedic Astrology), Saturn is the karaka (indicator) for oil as he is also the one who maintains and administers our karmas!!
So next time, you are lighting a diya (earthen oil lamp). Don’t do it mindlessly. Light the lamp with a conscious intension. Do your prayers with a conscious intension of burning off your karmas and by doing so, you are slowly becoming more and more light. I.e. you are slowly becoming ‘enlightened’.