Oiled sand is pretty obsolete. The worry is the oil will migrate into the groundwater. We've tried to specify food grade oil, but it was too expensive.
Compacted aggregate base is an acceptable alternate, as long as it doesn't have any material in it that would corrode the tank bottom (happened to us).
Asphalt is another alternate. Contractors work with it all the time, it can be shaped such that the floor slopes can be maintained, it shouldn't be corrosive and the price isn't a big objection. But I can't remember ever using it, just suggesting it.