I own a restaurant and we have a dedicated cooking oil recycling container which sits out back next to the dumpster. Weekly a fellow comes by and picks up the use oil and removes it at no charge since he recycles it.
Call a local restaurant, preferably one that has one or more fryers, and ask if they would mind recycling the oil for you. I am sure that you will find an environmentally conscious owner or manager who will be happy to help.
Alternatively, call your local household waste disposal company (city, county, parish, etc.) and ask what their recycling policy is for disposal of used cooking oils. Your best bet may be to put it into a sealed container and put it in your trash or put it in your recycling bin.
The use of vegetable oils as so called bio-diesel fuel is the logical best use for these used oils. In most cases they can just filter out any particulate matter and mix it with regular diesel fuel. I understand that the original fuel for which Mr. Diesel developed his diesel engine was vegetable oil. Engines run on vegetable oil have exhaust that smells like french fries.
Here is an interesting site about Biodiesel and using vegetable oil as fuel:
With regular diesel fuel costs at an all time high, we shouldn't waste the alternatives.