It is stored in the refrigerated section of the health food store. Although the absence of milk particles does indicate slow or maybe almost never going rancid, I'm afraid to leave it unrefrigerated for too long. It melts pretty fast.
thanks, everyone, for your thoughts about this.

While you don't NEED to store it in the fridge, I think it'll last longer if you do. I have to buy it in, roughly, half-gallon tubs, so I've held it for a year in the fridge. I tend to use it for its flavour, which can add a lot to certain Indian dishes in particular.

Well, thanks, Mr_Vittles- that ziploc idea sounds good.

Ghee does not need refrigeration. Many of my Indian friends keep a little jar by the stove for quick access. Just make sure to keep air from getting to it. A Ziploc container should do he trick.

I once had to crank out sixty omelets to order for a christening party, so I had my slave make lot's of clarified butter. Very good for cooking with shellfish, such as scallops and shrimp---or lobster. I use olive oils all the time, but there are those times when you really want that taste of butter, as in hollandaise (and riffs on that). Sauce bernaise involves whisking clarified butter into egg yolks and flavoring it with tarragon.

I use it to cook and also as part of a cleanse- four days of brown rice with beans and veggies. The days starts with a few teaspoons of ghee.
Thanks, everybody!

@pierino What do you use your clarified butter for the most? For a hot heat sear/saute or for more diverse uses? I have a jar in my fridge and use it for searing, etc, but wonder if there are more reasons to use it...

Per tiggyBee's comments, the milk solids have been removed to inhibit spoilage, so it does last. I'd still store in a cool, dark place and the refrigerator happens to be one. I make clarified butter frequently, but I tend to use it fairly quickly.

No, it doesn't need to be refrigerated. As long as it's in an airtight container, room temp is fine and it'll last quite a while.