The most common and most likely answer to this crossword clue is the 8 letter word VASELINE
I've seen this crossword clue in The Times
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The straight part
We know that "jelly" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case jelly = vaseline.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does VASELINE mean?
VASELINE noun- Petroleum jelly.
- Any particular kind of petroleum jelly or of any similar lubricant.
- A greenish-yellow coloured glass, or the colouring used in the manufacture of this glass.
- To lubricate with vaseline.