If you notice a squeak associated with suspension travel, you need to inspect the entire suspension and fix what ever you find wrong. The sway bar bushings are a common one on the Commander.
Change interval on sway bar bushings, check your O.M., but I'll save you the trouble there is NOT one, I seem to remember an interval to inspect the suspension though, and then replace anything you find worn out.
The sway bar bushings are not designed to allow the sway bar rotate within them, the bushing should flex and twist with the bar. If the sway bar bushing has worn away, it will allow the bar to rotate within it and could make noise. Lubricating it will just cause it to rotate easier and maybe make the noise worse.
The cure, if it is the sway bar bushings, is too get new ones and replace them.
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