According to the marketers and importers, the decline has come about as a result of the continuous decline in the prices of crude oil on the international market.
This has resulted in the prices of finished products also going down marginally.
Petrol prices has reduced by at least 1.20 percent per liter, LPG is down by 1 percent per kilogram, while diesel witnessed the biggest drop, with almost a 6 percent reduction per liter.
According to some analyst, prices at the pumps will continue to decline following projections that crude oil prices will be declining until the middle of next year.
However, this will happen only if the local currency continues to stabilize against the US dollar.