Just keep it sealed in the fridge, it will last forever. I don't only make gummies with mine- I'll put a teaspoon in a cup of tea, just eat a bit straight off a spoon, mix it in spaghetti sauce, spread it on toast or english muffin, etc., etc.
14 oz off oil normally gives me about 40-45 gummies of various sizes, so 48 oz should yield you about 150+ gummies, which is a lot. LOL. I normally give 1/2 my gummies away, keep the other half for myself. So I'm making gummies every 5 weeks or so.