Fit Fare

It sounds like an oxymoron but there really are some oils that are better health-wise than others. The trick is to use the right oil for what you are making and avoiding ones that have saturated fats or trans fats like palm oil, shortening (though there are some trans fat free shortenings now available), hard margarine, and coconut oil. There is some debate that palm oil and coconut oil are not as bad for you as once reported. While they are both extremely high in saturated fat, but because the saturated fat in the oil is plant based, some studies suggest that it does not raise LDL (bad) cholesterol.

Here is a list of healthier alternatives and their uses.

Almond Oil
Almond oil is very expensive. It has an extremely subtle almond aroma and flavor. It has a high smoke point so it may be used for high heat cooking.
Uses: salad dressings, ingredient for sauces, desserts, nutritional supplement, body oil

Canola Oil
Canola oil has the lowest level of saturated fat of any edible oil and has one of the highest levels of monounsaturated fat.
Uses: Stir frying, grilling, baking

Corn Oil
Corn oil has little taste, which makes it an excellent choice for baking and stir frying.
Uses: frying at high temperatures, baking. 

Flax Seed Oil
This oil has very high level of omega-3 fatty acid and is generally used in supliments.
Uses: salad dressings

Grapeseed Oil
Grapeseed oil has a high smoke point which makes it great for frying but it is also very expensive and hard to find in large quantities.
Uses: Great for frying or a sauté. Also used in cosmetics and bath products.

Hazelnut Oil
Hazelnut oil has a strong hazelnut flavor and is generally only used in sparing amounts in cooking.
Uses: salad dressings, baking, flavoring ingredient, condiment

Macadamia Nut Oil
This oil tastes strongly of macadamia. It is often difficult to find, but its high smoke point makes it a good choice for sautéing and frying and it has the highest level monounsaturated fat of any edible oil and an exact balance of omega 3 and omega 6 fatty acids.
Uses: cooking, flavoring ingredient, condiment, salad dressings

Mustard Oil
Mustard oil is very popular in Indian cooking and is the number one oil in India. However, it is banned for human consumption in the US and by the European Union because it contains erucic acid, which is considered noxious.
Uses: cooking, flavoring ingredient, salad dressings, marinade

Olive Oil
Olive oil is one of the most versatile oils for cooking. It has a light, fresh flavor that compliments many cuisines. It has a high percentage of monounsaturated fat, which is healthier than the polyunsaturated fats found in corn oil and much healthier than the saturated fats found in butter. Olive oil also contains no cholesterol.
Uses: salads, grilling, seasoning, dipping breads, frying, baking

Peanut Oil
Refined peanut oil is virtually flavorless and has a high smoke point making it an excellent choice for sautéing and frying. It does not absorb or transfer flavors from food. It is monounsaturated and polyunsaturated fats.  However, people with peanut or ground nut allergies should avoid eating food cooked in peanut oil.
Uses: cooking, salad dressings, deep fat frying

Safflower Oil
From: Safflower oil has as the highest level of polyunsaturated fat of any edible oil. It is low in saturated fat so but it also contains a low level of monounsaturated fat and no vitamin E, so it is not regarded as the best choice among the healthiest oils. It also has a rather pronounced flavor which may not work with all recipes.
Uses: salads, sauces.

Sesame Oil
This oil is made from toasted or untoasted sesame seeds. It has a strong sesame taste and is often used in small quantities to flavor a dish.
Uses: stir frying, marinades, Asian cooking.