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I'm curious to know if this service has a pro-rated cost at a more granular interval than daily, as many other Microsoft Azure services do.

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It currently costs you on a daily basis than on a granular interval. For example in a scenario where you're using the Basic SKU for an hour, it will still cost you the amount for a day. 

What it means is that it is a storage and charges on per day basis of using this storage. 

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