Depends on what you're cooking, the smoke point etc. In general it's healthier, I know one health expert who drinks (pure, from the bottle), 1L a week for the benefits it provides.
I don't think EVOO has ever been £2 a litre? I'm very budget conscious, will only buy the cheapest EVOO, and I seem to remember it was about £5/litre two years ago?
I'm almost 100% sure it's not £2/litre recently. Happy to be proven wrong..
Edit: I did some research, seems the price has...