There is no single winner. Use a format portfolio: modern delivery for capable browsers, sensible fallbacks, and SVG for trusted vector artwork.
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Convert an image
Choose the format that fits the job. Transparency gets a clear warning before JPEG conversion.
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Match the format to the pixels
Photographs tolerate perceptual compression. Logos and UI captures punish ringing around hard edges. Transparency rules out JPEG unless you intentionally add a background.
Delivery is more than file size
A smaller file can still be a poor choice if your audience cannot decode it or if generating it consumes too much server CPU. Responsive dimensions, caching, and lazy loading often matter as much as the codec.
A practical default
For a new web project, WebP is a strong general default, JPEG remains a safe photo fallback, PNG remains useful for exact graphics, and AVIF is worth measuring on high-traffic photographic assets.