Compared to a few years ago, there has been a significant decline in webhosting prices internationally without a major change in quality of webhosting. 5 years ago, the lowest prices were usually $3/month for webhosting, today there are many companies which are offering webhosting for less than $18/year.
While well known webhosting brands, especially those affiliated with EIG group like Hostgator.com continue to charge higher prices for webhosting, the lesser known brands have reduced their webhosting prices to a very great extent.
After Burst.net closed, many webhosting companies realized that having customers was most important, only if their customers made money, they would be paid monthly or yearly.
In India, however the webhosting rates continue to remain high, significantly higher compared to international prices.