Wow, thank you for all the answers. Quite the read through everyone feedback. The key take away points I've gathered is
#1 Don't use Petrol (gasoline) and
#2 Use Mineral Spirits.
My final question then is should Mineral Spirits be used first followed by a rinse in denatured alcohol (which is essential ethyl/ethanol) or should mineral spirits be the only solvent used in cleaning the chain? I've read somewhere that mineral spirits leaves behind a residue which causes the wax to not adhere as well to the chain which is why it is recommended to use denatured alchol (ethyl/ethanol) which removes the reside left behind by the mineral spirits.