Chocolate Cherry Olive Oil Cupcakes with Cherry Cream Cheese Frosting

3 cups flour
1 1/2 cups sugar
6 tablespoons cocoa
2 teaspoons baking soda
1/2 teaspoon salt
3/4 cup Bertoli Extra Light Tasting Olive Oil
2 tablespoons white vinegar
2 tablespoons cherry extract
2 cups cold water
2 8-ounce packages Philadelphia Lite Cream Cheese, at room temperature
3 1/2 to 4 cups confectioners sugar
1 tablespoon cherry extract (or syrup from Maraschino cherries)

Preheat the oven to 350ºF.

Mix the flour, sugar, cocoa, baking soda and salt together in a large bowl. With a hand mixer on low speed beat in the oil, vinegar, cherry extract, and water until smooth. Pour the mixture into the cupcake pans.

Bake for 15-20 minutes or until a cake skewer inserted in the center comes out clean. Do not over-bake.

Put the cupcake pans on cooling racks and cool for 15 to 20 minutes before removing from the pans to cool completely. Frost when cool.

Beat the cream cheese in a bowl until smooth; gradually add in enough of the sugar to make a smooth frosting that is not runny. Stir in the cherry extract.