This is the 14933rd most frequent Russian word.
подешевел
"Became cheaper."
Here, 'подешевел' is used as the past tense of the verb 'подешеветь,' indicating that the item became less expensive.
Этот товар подешевел после скидки.
This item became cheaper after the discount.
In this sentence, 'подешевел' describes a completed action where the price of gasoline decreased.
С тех пор, как подешевел бензин, ездить стало выгоднее.
Since gasoline got cheaper, driving has become more economical.
Here, 'подешевеет' is the future tense form, showing a potential price reduction of the product.