No, gas prices wouldn't be cheaper, but you wouldn't be using as much gas and thus wouldn't spend as much on it. You completely missed the point. Also, I'm aware of the so-called "gas price game", but unless you have some magical scheme for boycotting gas there's not really anything we can do about it. Changing your mood inversely to the gas prices doesn't help either.
And yes, electric cars have been around for quite a while. The only problem with alternative fuels/vehicles is that the energy (oil) companies own most of the patents for the technology, and they'll only start to popularize the alternatives when there's no more money to be made in oil. It's all about who can make a quick buck.