LLM Pricing Statistics (2026)
Frontier LLM token prices are 85% below their March 2023 level as of November 2026, per the BenchLM Token Price Index (15 on a base of 100).
Key statistics
- Frontier LLM token prices are 85% below their March 2023 level as of November 2026, per the BenchLM Token Price Index (15 on a base of 100).
- Over the 12 months to November 2026, the BenchLM Token Price Index shows frontier LLM token prices up 114.3% year-over-year, while mid-tier prices went down 40.8%.
- As of November 12, 2026, token prices are listed for 223 AI models, including historical snapshots.
- As of November 12, 2026, the median LLM API price across 223 models tracked by BenchLM is $0.70 per 1M input tokens and $2.95 per 1M output tokens.
- As of November 12, 2026, the most expensive LLM API tracked by BenchLM (o1-pro) costs roughly 87500x more per blended 1M tokens than the cheapest (Celeris-1.1 Decision).
- As of November 12, 2026, the cheapest model in BenchLM's overall top 10 is GPT-6.1 Terra at $1.00 per 1M input tokens and $5.00 per 1M output tokens.
- As of November 12, 2026, open-weight models on BenchLM have a median blended API price 77% lower than proprietary models ($0.44 vs $1.93 per 1M tokens at a 3:1 input:output ratio).
Frontier LLM token prices are 85% below their March 2023 level as of November 2026, per the BenchLM Token Price Index (15 on a base of 100).
−85% (index: 15)
Over the 12 months to November 2026, the BenchLM Token Price Index shows frontier LLM token prices up 114.3% year-over-year, while mid-tier prices went down 40.8%.
frontier +114.3%, mid-tier -40.8%
As of November 12, 2026, token prices are listed for 223 AI models, including historical snapshots.
223
As of November 12, 2026, the median LLM API price across 223 models tracked by BenchLM is $0.70 per 1M input tokens and $2.95 per 1M output tokens.
$0.70 / $2.95
As of November 12, 2026, the most expensive LLM API tracked by BenchLM (o1-pro) costs roughly 87500x more per blended 1M tokens than the cheapest (Celeris-1.1 Decision).
87500x
As of November 12, 2026, the cheapest model in BenchLM's overall top 10 is GPT-6.1 Terra at $1.00 per 1M input tokens and $5.00 per 1M output tokens.
GPT-6.1 Terra ($1.00 in / $5.00 out)
Methodology & sources
Prices are USD per 1M tokens from BenchLM's pricing dataset (223 models, updated November 12, 2026). Current rates and historical snapshots are included; a listed rate does not establish that a model remains available. "Blended" price assumes a 3:1 input:output token ratio. "Frontier" means the top 10 models on BenchLM's overall ranking. Time-series figures come from the BenchLM Token Price Index (median blended price of flagship models, base March 2023 = 100).
Cite these statistics
Every number on this page is generated from BenchLM's live dataset and refreshed with each data update. Link any statistic directly using its anchor, or cite the page as:
BenchLM.ai, "LLM Statistics" (November 12, 2026), https://benchlm.ai/stats/llm-pricingQuestions
How much does an LLM API cost per million tokens?
As of November 12, 2026, the median price across 223 models tracked by BenchLM is $0.70 per 1M input tokens and $2.95 per 1M output tokens, with roughly a 87500x spread between the cheapest and most expensive models.
Are open-weight models cheaper than proprietary models?
Yes. As of November 12, 2026, open-weight models tracked by BenchLM have a median blended API price 77% lower than proprietary models ($0.44 vs $1.93 per 1M tokens).
What is the cheapest frontier-quality model?
As of November 12, 2026, the cheapest model in BenchLM's overall top 10 is GPT-6.1 Terra, at $1.00 per 1M input tokens and $5.00 per 1M output tokens.
How much have LLM token prices dropped since GPT-4?
Frontier LLM token prices are 85% below their March 2023 (GPT-4 launch) level as of November 2026, per the BenchLM Token Price Index — though the last 12 months moved up, not down, at the frontier.
Know when it’s worth switching models
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