Extra virgin olive oil, or EVOO as Rachael Ray would say, is a must for any household pantry. You need some kind of fat to cook, and olive oil packs a punch with antioxidants that can help lower your cholesterol as well as helping to ward off heart disease and cancer. Besides that, it's the perfect cooking oil with its excellent taste and quick heating ability -- definitely a pantry staple. There are all kinds of extra virgin oils in a range of price points. If you're a "foodie" with a discerning pallet, you'll pay a little extra for gourmet brands. If you've just decided to give olive oil a whirl, you can go with a less expensive variety and refine your taste and cooking skills from there.