I have a query regarding my Azure instance. According to the Azure billing calculator.
For premium storage of 2 disk it costs around 39.42 USD where as for the standard storage it costs around 3.04 USD.
So currently i have azure premium storage and want to migrate to standard disk storage in order to reduce the cost. Can someone suggest me a workaround for this given the condition i don't want data loss to happen on migrating.
Add another answer to @Gaurav Mantri's. If your Disk is managed, you can take following steps. Now, Azure can let you change your Managed Disk type easily.
Steps:Go to Azure Portal> Stop (deallocate) your VM> Go to Your Disk> Account type > Choose standard (HDD)> Click Save
Then your disk will be successfully updated!

If your Disk is unmanaged, you can take @Gaurav Mantri's answer to migrate your Disk.
You can't convert a Premium storage account to a Standard storage account.
What you will need to do is create a new storage account (or use an existing storage account) and copy the blobs holding the disks from Premium account to Standard account. You could use AzCopy or PowerShell Cmdlets to copy blobs from one storage account to another. If you're using AzCopy, you can use following command:
AzCopy /Source:https://sourceaccount.blob.core.windows.net/mycontainer1
/Dest:https://destaccount.blob.core.windows.net/mycontainer2 /SourceKey:key1 /DestKey:key2 /S
Also, please note that copying blobs across storage accounts is an asynchronous operation so please ensure that you don't delete the blobs from your Premium account until they are copied completely in target storage account.
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