Energy Minister Gwede Mantashe announced the measures overnight, which include a drop in the price of gasoline by 1.32 rand ($0.08) per litre - to 25.42 rand and 24.99 rand, for 95-octane and 93-octane gasoline, respectively, from Wednesday.
The price of diesel, used mainly by farmers, haulage vehicles and emergency power generators, will also be cut, by 88 cents for high-sulphur diesel, and 91 cents for lower sulphur diesel, the statement said.
South Africa's fuel prices are adjusted on a monthly basis to reflect factors such as the strength of the rand currency and global oil prices.
Inflation hit a 13-year high of 7.4% in June, and the central bank expects the 2022 figure to run at around 6.5%, above the ceiling of its target band of between 3% and 6%.
On July 21, the bank delivered its biggest interest rate hike in two decades to try to curb rising prices, raising the policy rate by 75 basis points to 5.5%.
($1 = 16.6389 rand)
(Reporting by Tim Cocks; Editing by Tomasz Janowski)
