Yep. Oil prices are astronomically high, almost double previous levels. And they're not likely to be dropping drastically unless demand crashes for some reason. (Like a worldwide depression...)
For a while now, there's been talk of a phenomenon called "peak oil." We're there now. The oil supply has peaked. There's no excess capacity, and the remaining reserves are harder and harder to reach. We've reached the maximum level of oil supply, but demand keeps heading up. Playing around with taxes (like McCain gas tax "holiday") won't repeal the laws of supply and demand. Limited supply + growing demand = higher and higher prices.
Cheap gas prices (and air travel and home heating oil and etc) are things of the past.