Caramelized Onion Dip

1 tablespoon vegetable oil
2 cups thinly sliced onion
2 teaspoons chopped fresh sage leaves
3/4 cup mayonnaise
3/4 cup sour cream
1 teaspoon salt
1 teaspoon ground black pepper
Potato chips or bite-sized vegetables, for serving
Heat oil in heavy medium saucepan over medium-low heat. Add onions and sage. Cover and cook until onions are deep golden brown, stirring occasionally, about 20 minutes.
Whisk together mayonnaise and sour cream in a medium bowl to blend. Once they are done cooking, stir in the caramelized onions, then salt and pepper.
Cover dip and refrigerate until flavors blend, about 1 hour.