The petrol price will decrease by 67 cents per litre while diesel will decrease by around 25 cents.
Economists say that it’s likely the price of fuel will remain stable for the rest of the year.
The price decrease will come into effect from 3 September.
An economist fears consumer's pockets won’t ease with recent increases in fuel, electricity & food.
The petrol price will increase by between 29 and 31 cents per litre (c/l) from Wednesday.
The dept says the average rand/dollar exchange rate strengthened during the period under review.