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AFAIK the peering charge here is discounted than normal to internet egress charge, so it cheaper.
The CDN interconnect discount (the lower rate for traffic going to Cloudflare/Akamai/Fastly) only applies to the premium tier. The standard tier uses normal internet transit instead of Google's peering links so it doesnt get that discount. The standard tier has a flat internet egress rate no matter where the traffic goes, currently $0.085 per GB.
standard tier rate to Cloudflare still amounts to a charge, it's just billed under the usual standard tier egress rather than under CDN interconnect pricing. The policy change you've heard about is most likely the increase around May of this year i think. when Google doubled its CDN interconnect/peering rates, the rate in the North america region going from $0.04 to $0.08 per GB. that change only applies to premium tier peering the standard tier pricing wasn't altered.
Check your billing SKUs to see whether youre being charged for Standard Tier internet egress or Premium Tier CDN Interconnect.