I know that some countries recycle used cooking oil. Here in the Us several parts to recycle the used oil. Trash bin or drain would be the worst ideas. If you don't have any recycling going on yet You can either dispose it at a the closest curbside or ask a local restaurant if you can use their grease bin most large restaurants do dispose their used oil bin which are later recycled.
Try to recycle yourself for deep frying for instant oil can be reused.