According to this AP analysis, hybrids really never made sense, even with gas at $4:
It’s hard to blame buyers when the 2009 Altima hybrid costs about $5,900 more than the standard version. The Altima hybrid improves combined city-highway fuel economy to 34 miles per gallon from 26 mpg in the standard four-cylinder. Even with gas at $4.11, where the national average peaked in July, a driver has to log nearly 159,000 miles to recoup the upfront cost. For someone who drives 15,000 miles annually, the gas savings is $558 a year. That’s more than 10 1/2 years of driving — assuming the car lasts that long.
With gas at current prices, get ready for a 364,000 mile road trip to get your money back.