In a sauce pan, take the sugar and water.
Mix and stir very well. Keep this pan on the stove top on a low heat. I have used organic unrefined cane sugar but you can use white sugar.
Bring this sugar solution to a boil on a low heat. You will see the mixture bubbling initially.
Continue to cook and do keep on stirring often.
At one point it might look that the sugar is getting crystallized.
Continue to cook and stir frequently till you see the color changing to a dark brown. Switch off at this point.
Remove the pan from the stove top and place it down. Immediately add 1 cup water to the caramel. Be careful while doing so, as the mixture splutters.
The caramel will harden as soon as you pour the water. Keep the saucepan back on the stove top on a low flame. Stir often and bring to a gentle simmer till all the hardened caramel is dissolved. Do stir often so as to aid in dissolving the caramel.
Let this caramel solution cool completely.
Once the caramel has cooled, add the oil. I used olive oil. You can also use sunflower oil or melted butter. If using melted butter then add it when the caramel solution turns warm.
Mix the oil with the caramel solution very well.
Next add lemon juice or apple cider vinegar. I have used lemon juice. You can also use white vinegar. Mix again very well.