The technology allows the use of a smaller gasoline engine and better mileage and lower emissions. When gas prices were hitting $3.00 per gallon, hybrid owners were putting money in the bank. At $2 it is probably a tossup depending on the car and circumstances. Do you expect gas prices to stay below $2 a gallon for the next eight years? Eight years is the expected lifetime of the battery. Toyota has data showing the batter good exceeding 180k miles.
Adjusted for inflation, yes.