In a microwave bowl, add chocolate chips and vegetable oil. Microwave chips and oil, using 30 second increments, stirring after each increment until chips are melted. Chips will continue to melt while stirring. Be careful not to overcook the chocolate.
Pour Rits Bits in a large bowl. Pour chocolate over top. Use a rubber spatula to scrape all of the chocolate from the bowl to add to the crackers. Toss crackers in chocolate until all are crackers are well coated.
Add powdered sugar and hot chocolate mix to a gallon-sized zip top back. Shake to mix. Add chocolate coated Ritz bits to gallon bag. Shake well until all crackers are well coated. Pour out onto wax paper. Break up large groups of crackers that have stuck together. Put separated crackers back into zip bag and shake in powder sugar coating again, When all the crackers have been coated, excess sugar shaken off and chocolate coating set, serve. Takes about 10 minutes or so for chocolate to set in a cool, dry kitchen.