Thank you for reaching out on Microsoft Q&A!
Unfortunately there's not a one-off answer to your question. It depends.
In general it is indeed possible to switch to a Logic App Standard in terms of cost, because it's a fixed price instead of consumption thus you know what you're going to pay and also know it will be less.
However, a fixed price also means reserved resources, so a Logic App Standard does not automatically scale out when you need more resources on peak moments (thus it "hangs" at that point). You can, off course, create your own scaling options in the Logic App Standard, but keep in mind that this scaling will also cost you money. On heavy workloads you may not end up cheaper then with a Consumption plan.
My advise to you would be to test your workloads based on a single Logic App Standard, and see if it holds the load. If so, you're perfectly fine with using it. When you need scaling it may be as expensive as Consumption. But this needs to be thoroughly tested, based on your workloads.
So, long story short: yes it could potentially be an outcome for saving cost, but always keep performance and scaling in mind to fit your needs. This determines whether or not it's actually cheaper.
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Kind regards,
Sonny