Preheat oven to 350 degrees. Line 18 standard muffin cups with paper liners.

Combine flour, granulated sugar, brown sugar, baking powder, salt, cinnamon and allspice in a large bowl. Add oil, eggs, milk and vanilla; beat with electric mixer at medium speed 2 minutes or until well blended. Beat in bananas until well blended. Spoon batter into prepared cups, filling three fourths full.

Bake 25 to 30 minutes or until toothpick inserted into centers comes out clean. Cool cupcakes in the pan for about ten minutes on a wire rack. Move to wire rack to cool completely. Once cooled, frost with chocolate frosting and cover with sprinkles if desired.