Here is a list of the cheapest dedicated server web hosting services *:

No setup fee

Ping from europe - monthly price host service : host price + cpanel/plesk - cpu - RAM - Traffic - Management

_25 - _8 Digicube.fr (FR) : 8+none - 2x 1.6 - 1GO - unlimited - unmanaged
_16 - 20 Nuxit.com (FR) 20+0 - 1x ? - 0.5GO - unlimited - ?
_14 - 22 Kimsufi.com (FR) : 22+none - 1x1.2 - 2GB - unlimited - unmanaged
_23 - 23 Hetzner.de (DE) : 23+none - 1x 3.7 - 2GB - unlimited - unmanaged
_20 - 24 c-dedie.com 24+none - 2x 1.8 - 4GO - unlimited - unmanaged
_97 - 30$ Volumedrive.com (USA) : 20+10 - 2x ? - 4GB - 8TB - ?
_18 - 30 Gandi.net (FR) : 30+none - 1x ? - 2GB - 0.5TB - unmanaged
_12 - 35 Netissime.com (FR) : 29+6 - 2x ?- 4GO - unlimited - unlimited - unmanaged
_34 - 37 Leaseweb.com (NE) : 29+8 - 2x ? - 2GB - unlimited - ?
_31 - 42 Poundhost.com (UK) 30+5 - 1x 1.8 - 2GB - 5TB - ?
_30 - 44 Rapidswitch.com (UK) 34+10 - 2x 2.2 - 3GB - 10TB - unmanaged
_28 - 45 Medialook.ch (SW) : 35+10 - 1x 1.20 - 2GO - unlimited - managed
_40 - 48 Hosteur.com (FR) : 48+none - 1x ? - 4 GO - unlimited - unmanaged
_38 - 54 Fasthosts.co.uk (UK) 39+15 - 2x 2.8 - 4GB - unlimited - managed
120 - 64$ Fdcservers.net (USA) : 39+25 - 2x 1.6 - 2GB - unlimited - ?
_18 - 65$ Websterz.net (USA) : 30+35 - 1x 1.2 - 2GB - 5TB - unmanaged
127 - 65$ Wholesaleinternet.net (USA) : 25+40 - 2x 1.6 - 2GB - unlimited - ?
135 - 69$ Joesdatacenter.com (USA) : 35+34 - 1x 2.8 - 0.5GB - 2TB - unmanaged
107 - 70$ Burst.net (USA) : 50+20 - 1x 3.1 - 1GB - 5TB - unmanaged
_38 - 84$ Datashack.net (USA) : 49+35 - 4x 3.4 - 8GB - 20TB - ?
??? - 85$ Serverpronto.com (USA) : 50+35 - 2x 3.20 - 2GB - 5TB - managed