I've always thrown out any of my oils or natural products that started to smell rancid. I assumed that since many of them have natural anti-microbial properties that they must have "expired" or reached their life expectancy if they can't keep the rancid smell (produced by microbes, I assume) out anymore; thus, leading me to conclude that they aren't potent for the purpose I was using it. In other words, it's just become a smelly oily substance with possible contamination and no benefits. That's just my assumption, however. I'm not a chemist or anything.
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