Olive oil "shelf" life and summer camping
Olive oil will degrade over time, but that is measured in months and years if stored out of the light, and in cool conditions.

If you leave EVOO (extra virgin olive oil) in a glass container in sunlight, it will start to loose some of it's amazing flavour, astringency, and smell, but again this will take many days to be even slightly noticeable. It will still be safe to use.

Just don't leave a glass bottle of oil in the sunshine, keep it in a cool place (like under the seat in the car), and it will be OK.

If you have a few hours read up on it: http://static.oliveoiltimes.com/library/Olive-Oil-Storage-Conditions.pdf

The key point is that it takes 3 months at 37°C to ruin EVOO.