diff --git a/.changeset/rare-scissors-wait.md b/.changeset/rare-scissors-wait.md
new file mode 100644
index 000000000..14dc44843
--- /dev/null
+++ b/.changeset/rare-scissors-wait.md
@@ -0,0 +1,5 @@
+---
+'explorer': patch
+---
+
+Fixed a bug in the average fiat storage cost calculation.
diff --git a/libs/units/src/storage.spec.ts b/libs/units/src/storage.spec.ts
index 61bda4b08..44fcf3a37 100644
--- a/libs/units/src/storage.spec.ts
+++ b/libs/units/src/storage.spec.ts
@@ -4,6 +4,15 @@ test('storage', () => {
   expect(getStorageCost({ price: (1e9).toString() })).toEqual('4.320 SC/TB')
 })
 
+test('storage fiat', () => {
+  expect(
+    getStorageCost({
+      exchange: { currency: { prefix: '$' }, rate: '2' },
+      price: (1e9).toString(),
+    })
+  ).toEqual('$8.64/TB')
+})
+
 test('download', () => {
   expect(getDownloadCost({ price: (1e9).toString() })).toEqual('1.000 mS/TB')
 })
diff --git a/libs/units/src/storage.ts b/libs/units/src/storage.ts
index 39db28250..60fa4a5ca 100644
--- a/libs/units/src/storage.ts
+++ b/libs/units/src/storage.ts
@@ -1,10 +1,9 @@
 import { TBToBytes } from './bytes'
-import { monthsToBlocks } from './blockTime'
 import { SiaCentralHost } from '@siafoundation/sia-central-types'
 import BigNumber from 'bignumber.js'
 import { humanSiacoin, toSiacoins } from './currency'
 import { humanBytes, humanSpeed } from './humanUnits'
-import { valuePerTBPerMonthToPerBytePerBlock } from './valuePer'
+import { valuePerBytePerBlockToPerTBPerMonth } from './valuePer'
 
 type Hastings = string
 
@@ -20,14 +19,16 @@ type Props = {
 
 export function getStorageCost({ price, exchange }: Props) {
   return exchange
-    ? `${exchange.currency.prefix}${toSiacoins(
-        valuePerTBPerMonthToPerBytePerBlock(new BigNumber(price))
+    ? `${exchange.currency.prefix}${valuePerBytePerBlockToPerTBPerMonth(
+        toSiacoins(price)
       )
         .times(exchange.rate || 1)
         .toFormat(2)}/TB`
     : `${humanSiacoin(
-        new BigNumber(price).times(TBToBytes(1)).times(monthsToBlocks(1)),
-        { fixed: 3 }
+        valuePerBytePerBlockToPerTBPerMonth(new BigNumber(price)),
+        {
+          fixed: 3,
+        }
       )}/TB`
 }