 and then you're left with an oil that is fairly clear and can be applied anytime you need it to a wound. Anything special we have to do to preserve it, prevent it from going bad, or does it hold its own pretty good once it's diffused into the oil? The oils, if you think of olive oil, for instance, olive oil does have a bit of a shelf life. After a while, it will go rancid. If you're worried about that, you can always store it in the fridge. Good advice.