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I have had a few requests to repeat this suggestion. Why people don't do this I cannot understand. I have been doing this since I started shaving, I had seen my Dad do it since I was old enough to stand by the old bathroom sink on 319 South Brown Street in Dayton, Ohio. As many know, my Dad was a Doctor, and in those days all Doctors offices had a sterilizer unit somewhere. They also had white utensils, with lids, where they placed the items in to be sterilized. Well, Dad used one of these to store his straight razor in, and, in that white container (which I am looking at right now, the lid has gotten misplaced, but we have the bottom) he regularly added Olive Oil, and after shaving, his razor would be thoroughly washed, shaken dry, and placed in the Olive Oil.
Why? What is the enemy of metal, air, right, so after he stropped the razor to get it nice and sharp, it was protected from the air by the Olive Oil.
I have a coffee cup in the bathroom with Olive Oil in it, and I get probably three months use from an inexpensive 3-blade throw away razor. I buy 1-3-pack a year. Make sure you wash the razor good, and shake it dry before putting it in the oil. Cooking oil works also.
Make your razors last so much longer, put them in Olive Oil, you will be amazed how much longer they stay sharp.