Moved: This thread is more suitable in Linux-Newbie and has been moved accordingly to help your thread/question get the exposure it deserves.
When you change PATH this way, the result is used only for this session. When you logout (or run another terminal) settings will be as before. When you want to have the change permanent, you need to add the command you use to change PATH to one of starting scripts. If you wat this only for your user, check $HOME/.bash_profile. If you want to use it for all users, edit /etc/profiles.