Interesting trivia: Daylight savings might only be worth the effort for countries in the middle-latitude range (largely Europe, Americas and Australia/NZ). The closer you are to the equator, there's little variation in daylight and thus it doesn't matter.

Surprisingly the farther up north you are, there is so much variation that 1 hr doesn't really matter when your days go from 19 hrs long to less than 5 hrs. So Iceland for eg. does not practice Daylight Saving time.

There should be a better reference: http://wwp.greenwichmeantime.com/time-zone/europe/iceland/