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There exists price war among major cloud providers. Amazon Web Services announced to lower the prices of a number of its cloud services, soon after Google cut down its prices. According to the vice president of Amazon Web Services, cost slashing is aggressive in nature. Slashing prices is a regular process. Whenever it is possible to reduce costs, they lower the prices for the customers.As soon as Google announced to reduce its  Google Compute Engine (GCE) by 32 percent, Google Storage  by 68 percent Amazon Web Services decided to cut its price of AWS' Simple Storage Service (S3) by 51 percent, Elastic Cloud Compute (EC2) by 30 percent to 40 percent, AWS' Relational Database Service (RDS) by 28 percent, ElastiCache service  by 34 percent on average.The repeated cloud price cuts make it hard  to run in-house operations, which would create both hardware costs and preservation costs costly. Read more at:

http://www.computerworld.com/s/article/9247216/Price_war_Amazon_cuts_cloud_costs_to_counter_Google