PPC Bid price - Way too High

Hi PPC advert

Bid price set to $0.70, (bid up/down inc) make $1.40

Have hourly increase 100%, but has not started too early in the day.

Two bids at $3.27 - max should be $1.70 but at 4:00 in the morning, I question bid up and down at 100%

Thoughts any one, even is the hourly bid was incorrectly work max out $2.40

thanks