According to Luigi Caricato - oil expert - there are four main categories of oil. Namely, from the top to the bottom we find the extravergin olive oil, the olive oil, the refined olive oil and the pomace oil. While the first has an intense colour, the second one has a lighter tint that is even more faded in the last two.
With regard to the smell and taste, once again the extravergin olive oil has both them quite marked compared to the others. Finally, it is advisable to store all kinds of oil in a cool place, far from stove and oven to keep its original flavour and texture.