Used in frying, it may be dripping (3)
I believe the answer is:
oil
'be dripping' is the definition.
(thesaurus)
'used in frying it' is the wordplay.
'used in' means to look at the middle letters (the letters used on the inside of the word).
'frying' becomes 'electrocuting' ('electrocute' can be a synonym of 'fry').
'it' becomes 'il' (I can't explain this - if you can you should believe this answer much more).
The middle of 'electrocuting' is 'o'.
'o'+'il'='OIL'
'may' is the link.
Can you help me to learn more?
(Other definitions for oil that I've seen before include "Fuel, lubricant" , "what can be seen on iceberg" , "Black gold" , "Liquid gold" , "Anoint" .)