How to convert a webp image to png or jpg and back again

The standard dwebp and cwebp utilities in macOS are used to convert png or jpg formats to webp format

jpg ➡️ webp

cwebp image.jpg -o image.webp

png ➡️ webp

cwebp image.png -o image.webp

webp ➡️ png

dwebp image.webp -o image.png

webp ➡️ jpg

dwebp image.webp -o image.jpg