The petrol price decrease could result in further drops in the near future, according to Investment Solutions economist Chris Hart.
All grades of fuel are set to decrease by 55 cents per litre on Wednesday.
The price of diesel will drop by 24 cents and illuminating paraffin by 21 cents.
Hart said the drop in the international crude prices and the rand complement each other.
"The fuel prices have been going up relentlessly for the past year.
"This is a nice relief and it could well be that its followed up by further relief at the beginning of next month because the global crude prices have actually come down even further."