HostGator.com shared PHP hosting packages start from $4.95/month. 
HostGator.com offers php hosting at $10/month where you can host unlimited websites.

Features:

- 350 Gigabyte webspace

- 3,000 Gigiabyte bandwith

- 24/7 support, SiteBuilder, Free setup,

- PHP 4 and PHP5 with unlimited MySQL databases