Yes, GPT-5.5 costs twice as much as GPT-5.4. But the analysis of the new OpenAI GPT-5.5 by Artificial Analysis has some very interesting numbers when using their Intelligence Index:
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GPT-5.5 High is both cheaper and scores higher (59 @ $2.16k) compared to GPT-5.4 XHigh (57 @ $2.85k)
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GPT is significantly cheaper than Claude:
- GPT-5.5 Medium score (57 @ $1.2k) about the same as Claude Opus 4.7 Max (57 @ $4.81k), for a quarter of the price.
- GPT is the same price as "cheap" Chinese models:
- GPT-5.5 Low reaches a score in the same ballpark as GLM-5.1, MiMo-V2.5-Pro
- GPT-5.5 Low is half the price of Qwen3.6 Max (Preview) for the same score

The Intelligence Index is not the ultimate test, and your mileage will vary, but I think more efficient models will take over, as the subsidies start to disappear.