Aluminum is very absorbant to oils/oil based products- so remember this if you ever strip wheels etc back to bare and intend to repaint as the metal will not accept paint if there is any oil contamination!
Rgds Ben

does KY work just as well?

KY isn't petroleum based, so no, probably not. You don't want to use KY where you'd use vaseline, and you don't want to use vaseline where you'd use KY.

BTW, unless a PO or yourself has actually painted the wheels then the black AND the natural sections are both anodized, not painted.

You can always polish the entire wheel for an entirely different look?