Google have dropped the price of the Google drives more than 60%. Free account will offer you 15GB of storage while for 100GB plan you will have to pay just $ 1.99 per month(earlier it was $4.99). For 1TB price dropped from $49.99 to $9.99. Other storage options available are
10 TB – $99.99
20 TB – $199.99
30 TB – $299.99
The Google drive storage is connected with your Gmail, Docs and Google+ Photos. So if you are user who are getting emails with attachments, uploading photos to Google plus, using google docs to share documents online, you may need more space to store all these.
Check the plans and your storage space usage here
Read more about here on the Official Google blog.
Comparing the price with some others
10 GB - Free
100 GB – $5
1000 GB – $15 (Minimum 3 users needed)
7 GB – Free
50 GB – $25
100 GB – $50
200 GB – $100
But also remember that the Google Drive space is shared with your other Google services like Gmail, Docs etc.