Genesis 35:13-14 New International Version (NIV)
13 Then God went up from him at the place where he had talked with him.
14 Jacob set up a stone pillar at the place where God had talked with him, and he poured out a drink offering on it; he also poured oil on it.
Olive oil of the finest purity was what was used to anoint the pillar. This oil was very expensive. By using this oil, Jacob was showing the highest value that he could show. He had met with God at this place. This was a very important place for him. Jacob was demonstrating the greatest respect for the place he had met with God. Do you have a place where you have met with God and had a transforming moment with Him? Keep this time and place of the highest value to show your respect for God. Hold these transforming moments dearly to your heart.