As long as most of your drive cycle fits within the EV range of the plugin hybrid, they are cheaper to operate than a regular hybrid. The crossover point depends on the drive cycle and the cost of electricity vs gasoline.
I had a plug-in hybrid SUV that got 2.2miles/kWh in EV mode, which covered 75% of the miles I drove. The net savings were significant vs an equivalent plain hybrid SUV in my area, which would get basically the same gasoline miles/gal.