I'm under the impression that Extra Virgin is a higher
quality oil with a better taste....Regular olive oil is not
nearly as refined & cheaper...used in place of canola
or other oils for the health benefits but is slightly bitter.
.
This 20-year-old article from the New York Times describes one company's marketing campaign in which it handed out samples of pound cake made with olive oil, apparently to very positive reactions from consumers:I've used the "Light" version of olive oil in my baking. Right now I think I have Bertolli's...whatever BJs sells in the 3 liter. It's not lighter in calories, just flavor...as in it doesn't taste/smell like olives. Mr. Wonderful has never commented on it being a cranberry-olive muffin, so I'm safe.
Extra-virgin olive oil has been my oil of choice for nearly all my cooking requirements for many years now. While I do usually have a bottle or two of pricey artisinal types on hand for special salads, etc., my "go to" brand is Filippo Berio's Extra-Virgin Olive Oil. It has a nice olive fragrance & flavor without being too overpowering for everyday dishes. I buy it by the gallon from CostCo.