Dilutant
Dilutant is the term meaning a diluting agent. Diluent and thinner are other terms describing this agent. Generally the agent so used is to make the fluid at hand (a viscous one) have a lower viscosity because transporting/handling a highly viscous fluid is not feasible economically. Hence adding a dilutant sounds more enterprising. A perfect example to this is the addition of dilutants in pipelines transporting crude. Heavy crude contains waxes which makes it really difficult to transport, especially at low temperatures. Pumping these can pose lots of problems during winters when the low temperature causes the crude to 'freeze' due to its relatively high content of wax. In such a condition, addition of a dilutant is more profitable than pumping the heavy crude as such.