der Preis
price
The amount of money you have to pay for a product or service.
Der Preis für einen Liter Milch ist wieder gestiegen.
The price for a liter of milk has gone up again.

price / prize
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price
The amount of money you have to pay for a product or service.
Der Preis für einen Liter Milch ist wieder gestiegen.
The price for a liter of milk has gone up again.

'Der Preis' has two main meanings: the amount of money for a product and an award. The context makes the difference clear: verbs like 'bezahlen' (to pay) or 'kosten' (to cost) point to the amount of money, while verbs like 'gewinnen' (to win) or 'verleihen' (to award) point to an award.
Was ist der Preis für dieses Fahrrad?
What is the price of this bicycle?
When it is about money, 'Preis' is often used with certain verbs and adjectives. Typical combinations are 'ein hoher/niedriger Preis' (a high/low price), 'die Preise steigen/sinken' (prices rise/fall), or buying something 'zum halben Preis' (at half price).
Die Preise für Energie sind in letzter Zeit stark gestiegen.
Energy prices have risen sharply recently.
When an award is meant, typical verbs are 'gewinnen' (to win), 'bekommen' (to receive), 'verleihen' (to award), or 'vergeben' (to give out/award). The placement is often mentioned too, for example 'der erste Preis' (first prize).
Unsere Schule hat den ersten Preis im Mathewettbewerb gewonnen.
Our school won first prize in the math competition.
The idiom 'um jeden Preis' means 'absolutely' or 'no matter what it costs'. It often appears at the beginning of a sentence or in the middle of a sentence to emphasize determination.
Sie wollte um jeden Preis pünktlich sein.
She wanted to be on time at any price.
value
'der Wert' and 'der Preis' can both have to do with money. 'der Preis' is the amount you have to pay when you buy something. 'der Wert' is more about how much something is really worth, for example because of its material, condition, or significance. The words can be confused because price and value are often similar. But they do not have to be the same: something can have a high value but be sold cheaply at the moment. When buying something, you ask about the price; when assessing an item, you are more likely to talk about its value.

Vor dem Kauf vergleicht Mehmet den Preis in mehreren Geschäften.
Before buying, Mehmet compares the price in several stores.
Der Wert des alten Rings ist höher, als wir gedacht haben.
The value of the old ring is higher than we thought.