Best Cheap PHP Web Hosting Providers
The best cheap PHP web hosting provider that I know and that I recommend everyone to use is BlueHost. They support PHP 5.
Currently I'm hosting my 5 big web sites on my Bluehost account and am just fine with them - so far I've not experienced any problems.
I recommend trying Bluehost to everyone. You will not regret. Or the other the two web hosts on the top - JustHost and GreenGeeks are good as well.
Good luck with your new web host!