Because of the recent influx of bio-diesel as an alternative to gasoline, used cooking oil is in demand. Many jurisdictions have drop-offs, but you need to prepare the oil properly before recycling. First, cool off the oil in the pan and then place it in a clean container with a tight fitting lid, free of water, soap or food scraps.
At Earth 911, you can find a local recycling center that will take used oil plus tips for recycling it. Tossing what seems to be a little bit of kitchen waste in the trash or down the drain can harm wildlife and wreak havoc on local sewage systems.