https://techcrunch.com/2024/01/25/openai-drops-prices-and-fixes-lazy-gpt-4-that-refused-to-work/

OpenAI is always making slight adjustments to its models and pricing, and today brings just such an occasion. The company has released a handful of new models and dropped the price of API access — this is primarily of interest to developers, but also serves as a bellwether for future consumer options.

GPT-3.5 Turbo is the model most people interact with, usually through ChatGPT, and it serves as a kind of industry standard now — if your answers aren’t as good as ChatGPT’s, why bother? It’s also a popular API, being lower cost and faster than GPT-4 on a lot of tasks. So paying users will be pleased to hear that input prices are dropping by 50% and output by 25%, to $0.0005 per thousand tokens in, and $0.0015 per thousand tokens out.