No! Many people might, not unreasonably, assume that truffle oil is oil that has had truffles marinating in it to impart truffle flavour. This is incorrect. Truffle oil is just a normal oil (usually canola, grapeseed, olive, etc) with the addition of chemical 2,4-dithiapentane. This single artificial chemical has an aroma that mimics (to an extent) the 300+ aromas found in actual truffles.
In the U.S. it is even legal to use the words ‘organic’ and ‘natural’ in front of the words ‘truffle oil’, which has led to a class action lawsuit.
While there are oils infused with genuine truffle shavings, these are just for show —a visual selling point— for the simple reason that truffles do not impart any aroma into oil.