I know dark cool place, what about the refrigerator?
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The colder the environment, the slower oxidization occurs. Oxidization = rancidity = free radicals = cancer. Not to mention loss of nutrients and taste. The less saturated the oil, the more this applies. Also, the less refined the oil is, the more potential for damage over time. So, yes, refrigeration is best. How practical or necessary that may be is another question.
Emily is a trusted source on General Cooking.
I keep mine in a cool, dark corner of my pantry and have never had a problem. I go through it relatively quickly though- if you're talking long-term storage, you may want to refrigerate. But for at least a few months, I've never had a problem with the pantry storage!