In the 52 plus years I have been married, I have never refrigerated peanut butter.
I keep it in the pantry, because when I want it, I want it now and I want it to spread. I prefer Jiff with chunks of peanuts. I have never had a jar go rancid. I buy only one jar and a small one, at a time. I use it for baking cookies too, so it does not last longer than six months or so.