Is this truffle oil?
if its this product:
Then no. It sounds like this product or similar, ceps makes me think porcini, so it sounds like a poricini and truffle blend. This products ingredients are
Grapeseed Oil, Extra Virgin Olive Oil, Porcini Mushrooms (Boletus Edulis), Flavors.
No truffle listed, just "Flavors" so that would likely explain the lack of smell or flavour.