The shelf life of e-liquids at room temperature is determined by the shelf life of the base chemicals.
Shelf life according to Dow Chemical:
Propylene Glycol (PG): 24 months
Glycerin (VG): 14-24 months
The shelf life of the nicotine, flavorings and other ingredients can affect shelf life depending on user preferences. For instance, nicotine could oxidize and flavors could change prior to other shelf life limits. Nicotine and the
juice will yellow and darken as oxidation proceeds.
The shelf life for PG and VG given above is for Propylene Glycol USP and Glycerin USP that has been poured from sealed bottles, exposed to air, mixed and stored away from sunlight at room temperature.
e-liquid bases are exposed to air during preparation and mixing.
The shelf life for Glycerin USP and Propylene Glycol USP is much longer provided the product is stored in unopened USP described and FDA approved sealed containers. I have purchased fresh Glycerin USP with a five year expiration date. That's five years at room temperature, unopened and away from sunlight.