# LLM Pricing Statistics (2026)

> Frontier LLM token prices are 84% below their March 2023 level as of September 2026, per the BenchLM Token Price Index (16 on a base of 100). Updated September 18, 2026; every number regenerates from BenchLM's live dataset on each data refresh.

## Key statistics

- Frontier LLM token prices are 84% below their March 2023 level as of September 2026, per the BenchLM Token Price Index (16 on a base of 100).
- Over the 12 months to September 2026, the BenchLM Token Price Index shows frontier LLM token prices up 72% year-over-year, while mid-tier prices went down 7.7%.
- As of September 18, 2026, BenchLM tracks live API pricing for 166 AI models.
- As of September 18, 2026, the median LLM API price across 166 models tracked by BenchLM is $0.95 per 1M input tokens and $3.88 per 1M output tokens.
- As of September 18, 2026, the most expensive LLM API tracked by BenchLM (o1-pro) costs roughly 4773x more per blended 1M tokens than the cheapest (Qwen3.7 Flash).
- As of September 18, 2026, the cheapest model in BenchLM's overall top 10 is Gemini 3.8 Flash at $0.75 per 1M input tokens and $3.75 per 1M output tokens.
- As of September 18, 2026, open-weight models on BenchLM have a median blended API price 74% lower than proprietary models ($0.53 vs $2.00 per 1M tokens at a 3:1 input:output ratio).

## Methodology

Prices are USD per 1M tokens from BenchLM's pricing dataset (166 models, updated September 18, 2026). "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).

## FAQ

### How much does an LLM API cost per million tokens?

As of September 18, 2026, the median price across 166 models tracked by BenchLM is $0.95 per 1M input tokens and $3.88 per 1M output tokens, with roughly a 4773x spread between the cheapest and most expensive models.

### Are open-weight models cheaper than proprietary models?

Yes. As of September 18, 2026, open-weight models tracked by BenchLM have a median blended API price 74% lower than proprietary models ($0.53 vs $2.00 per 1M tokens).

### What is the cheapest frontier-quality model?

As of September 18, 2026, the cheapest model in BenchLM's overall top 10 is Gemini 3.8 Flash, at $0.75 per 1M input tokens and $3.75 per 1M output tokens.

### How much have LLM token prices dropped since GPT-4?

Frontier LLM token prices are 84% below their March 2023 (GPT-4 launch) level as of September 2026, per the BenchLM Token Price Index — though the last 12 months moved up, not down, at the frontier.

## Sources

- [BenchLM Token Price Index](https://benchlm.ai/token-price-index)
- [LLM Pricing (interactive table)](https://benchlm.ai/llm-pricing)
- [Price vs Performance](https://benchlm.ai/llm-price-performance)
- [Pricing trends over time](https://benchlm.ai/llm-pricing-trends)
- [Pricing JSON (machine-readable)](https://benchlm.ai/data/pricing.json)

Cite as: BenchLM.ai, "LLM Statistics" (September 18, 2026), https://benchlm.ai/stats/llm-pricing

Canonical page: https://benchlm.ai/stats/llm-pricing