Pakistan has seen a 55% recent rise in spending on oil imports, mainly due to "higher international prices and increased consumption," the Dawn newspaper said, adding that Saturday, currently a working day, would be made into the extra day-off.
Friday, as in most Muslim countries, is currently a non-working day in Pakistan.
"An announcement about a five-day week and the closure of petrol pumps for one day is expected this week," the newspaper said, quoting a senior governmental official.
The plan was developed by Pakistan's petroleum ministry, which hopes the move will help cut oil consumption by 20%, despite the failure of an earlier experiment with five-day working weeks.
The earlier experiment is widely believed to have failed due to the fact that many Pakistanis took advantage of the extra day off to drive out into the countryside to get away from city life. The proposed closure of petrol stations on Friday is designed to combat this trend this time around.
Among other measures, the government set higher duties on over 250 items last month to reduce imports of non-essential products.
Asif Ali Zardari, 53, the widower of Benazir Bhutto, was elected president of Pakistan, the sixth most populous country on Earth, on Saturday.