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I need to create a price rule that will decrease the product price by some percentage every day. I don't think it can be done with price rules, so any advice would be most appreciated. Thanks!

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    Why can't you create several price rules, each active for one day only with discount like 5,10,15,20, ... percents?
    – Amasty
    Commented Oct 14, 2014 at 14:23

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I'm afraid this is not possible with a pricerule. I would suggest creating a custom module with a daily cronjob that takes the special price of the product, subtracts a certain amount and sets that as the new special price.

Please check this excellent Inchoo Tutorial on how to create a custom cronjob in Magento

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