lip balm

US /ˈlɪp bɑːm/
UK /ˈlɪp bɑːm/
"lip balm" picture
1.

a waxy substance applied to the lips to moisturize and relieve chapped or dry lips, often containing ingredients like beeswax, petroleum jelly, or various oils

:
She always carries lip balm in her purse to keep her lips soft.
My lips get very dry in winter, so I use lip balm daily.