Pulled from Fat Wallet:

Bluehost just started running a $3.95/month special for 1-year terms. It has only been available for a 3 year commitment before.
Total cost:
1 years - $47.40
2 years - $94.80
They also provide free domain privacy with each account which is a bonus if you hate spammers getting your info.
To get the $3.95 pricing to show up, clear your cookies to make sure there are no affiliate links etc. stored in your browser and go directly to their website. Some links in Google are still showing up with the standard $6.95 pricing when I click through them.