Yes sure you can make this dip ahead of time. It can be stored in a clean dry airtight container for about a week. Storing in the refrigerator will thicken or solidify the oil, bring it to room temperature before serving; allowing it to come to room temperature will liquefy it again. If you do not want to store the oil in the fridge, you can store it on the counter but skip adding fresh garlic to the oil. When ready to serve simply mix in fresh minced garlic to oil and enjoy. If you skip adding fresh garlic (or other fresh ingredients) to the dip, it can be stored at room temperature on the counter for 2-3 weeks. Just make sure it is stored properly and keep checking for any mold.