Believe it or not, there is no "hard and fast rule" about how many times one can re-use frying oil. One of the reasons for that is that it depends on what and how one used the oil. If the oil was heated too hot, for instance, it can cause it to break down and spoil too soon.
The "wikibooks" website indicates:
--Change the oil when it becomes extremely dark.
--A rule of thumb is to change oil each week under heavy use, or every three weeks if it's only used for frying vegetables.
--When using new oil in your fryer, add an extra 1.5 minutes to your frying time.
--Opinions differ regarding the storage of used frying oil. Those who reuse oil disagree as to whether refrigeration is necessary, but generally agree that it is important to filter the oil and then store it tightly capped and away from light. Discard reused oil when it becomes dark or begins to smell "off".
--When reusing oil, add some fresh oil for each use in order to extend its usefulness.
--Oil can be purified by deep-frying parsley. The parsley absorbs the odors in the oil.
Another website (culinary-yours) says "Knowing the smoke point can also save you money, because each time you deep-fry, you lower its smoke point irreversibly. If you want to save money by reusing an oil as many times as possible, select one with a high smoke point."
"Prolonging Oil's Useful Life
--The longer an oil is heated, the more quickly it will decompose. Avoid preheating the oil any longer than necessary. If you're cooking more than one batch of food, quickly add each new batch, unless time is needed to adjust the cooking temperature. Turn off the heat as soon as you've removed the last food batch from the oil. Cool.
--Use a quality deep-fat frying thermometer, even if you're using an electric deep fryer.
--Store the oil, tightly sealed, in a cool, dark place or in the refrigerator. The oil may cloud in the refrigerator, but it should become clear again at room temperature with no ill effects.