Olive oil lasts a very long time. I get the Pastene in a 3L tin and have never had it go bad. I order it from their web site along with San Marzno ground tomatoes. Makes the best marinara sauce.
I keep the olive oil tin in the wine cellar at 57 degrees and it never gets rancid. I usually order once a year so it lasts a long time. As was noted above, olive oil should not be used for high heat cooking. Never let it smoke. But for saute anything it works great. ie making a soup where you start with onions, carrots and celery sauted, olive oil is much better then most other oils.
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