Gutter oil is really gutter oil.
At nigh in areas with heavy concentration of restaurants there would be oil in the waste water. oil floats to the top so the gutter oil merchants will scoop up the top layer of oil from the sewers, boil them and filter out sediments and resell as cheaper oil.
https://www.youtube.com/watch?v=ozCN8WPeH6g
Video form HK TV documentary, video should explain what is happening