According to this article on EatThis.com, there are several foods that are not worth spending your hard-earned dollars on. The last item on the list? That's right, "light" olive oil. As the article notes, "light" olive oil is hardly olive oil at all. It's typically tasteless refined oils that have no nutritional benefit at all.
As a matter of fact, even though extra virgin olive oil may have slightly more calories, those calories come in the form of beneficial fats that have been shown to have a positive impact on weight control and hunger regulation.
In other words, if you are going to buy a cooking oil, don't bother with anything but an extra virgin olive oil. And, of course, be sure you are getting a high-quality EVOO like Spartan Oil. ;-)