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That's a normal warning towards the end of the month if you're using the max allowable under the free tier. You have a 20GB disk that will, by definition, use 20 GB-Mo of storage allowance in 1 month, which is exactly what's allowed under free tier. At the start of the month you will have used 0 GB-Mo, and you use a bit each day. 85% of the way through the month you will have used 85% of 20 GB-Mo so the warning gets triggered.
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Thanks for clarifying. This coincidence of having 17GB free space and 17GB being 85% of my 20GB really confused me. I understand hours being incremented as the month goes by, but how is storage incremented towards the end of the month, its hard to wrap my head around this...
Storage is charged by "capacity x time" i.e. "GB x Months", so the longer you use it the more you pay. If you use 20GB for 1 month you're charged 20 x 1 GB-Mo. If you use 20GB for 85% of a month then you're charged 20 x 0.85 GB-Mo.