I have played Rage for 11 hours and have had no problems with it aside from the lack of visual options, but now suddenly my framerate likes to dip to unplayable levels in areas that i usually have more than 60. Can anybody help me with this?

You need to give us something to work with like what you playing it on, what drivers you might have, etc. Otherwise its like saying your car is slowing is down and the list of causes could be infinite. All I can tell you now is I've never heard of this particular problem being common.

A good start would be to post the specs of your system - or link to it if you bought it prebuilt