Generally speaking if your web host is charging an arm and a leg for 1 GB of disk space, this does not mean that your web hosting is providing high quality services. It may simply be because your web host prefers higher profit margins. When choosing a web hosting provider, the higher the price does not reflect on the quality of service. The service may suck and that web host may have a lot of angry customers.
What you should do when looking for a good quality web host is both take into consideration the price of the service. You should also look for reviews of the web host, and see if they have any featured customers or famous customers. You should reach out to some of the featured customers for their opinion on how the service has been and how long they have been a customer.
High prices = does NOT equal excellent web host
Any web host may increase their prices overnight. This does not mean they are an excellent web hosting provider. When looking at the web host, you have to factor in the price, reviews, testimonies of existing customers, their response time to your questions, and your gut feeling of their website. Does the web host make an address available? Is there a telephone number? When were they established? Who owns the company? Who are the people behind the web host? Simply because a web host charges a lot does not mean they are superior to another web host that may not be as expensive.