There are three storage options provided by the Object Storage powered by Google Cloud Platform service, which are offered under a single Service Plan. Within the API you can choose between the three options on a per-bucket basis.

Standard (default): For workloads that require high-levels of speed, performance, availability and durability, and hence costs higher than the other two storage options.

Durable Reduced Availability: For workloads that can run on lower-levels of speed, performance and availability but require high durability and is lower in cost as compared to Standard storage.

Nearline: For long term storage of infrequently accessed data (for example, archived data) that require lower-levels of speed and availability, and hence costs lower than the above two storage options.