Yep, use silicone grease. $5 tube at any well-stocked hardware store, virtually a lifetime supply for most folks.

Petrochemical greases and oils will degrade neoprene o-rings in time. VITON O-rings are more resistant but one of those will cost you half what a tube of silicone grease costs, if you can find one of the proper size.

If you see silicone grease sold in a little plastic flip-top container (a little larger in OD than a US quarter) leave it on the shelf. The plastic lids don't seal at all well enough for long term storage, the Si grease 'migrates' onto everything once that happens. What you want instead is a tube with a screw-on cap.