i don't think you will get the results that YOU would be looking for in an insecticide. lemongrass is use for its citronella content, that is effective for mosquitoes and other blood sucking flying insects but i would doubt it would be the best, oh for things like.....APHIDS!
even assuming you mix the lemongrass oil with dish soap, i bet it would be the dish soap doing all the work.
get something with pyrethrin daisy in it. i use schultz houseplant and indoor garden insect spray. one blast and it holds the little sap suckers back for a couple of weeks, still have to use it all winter but it works. it is readily found at my local Walmart. i have a horrible time with neem, can't get the formula ratio correct and always burns my plants. i have 75 plants overwintering in the house.