Texaco Inc. said its profit fell in...

Texaco Inc. said its profit fell in the final quarter of 1991 because of lower oil prices and weak demand. The White Plains, N.Y.-based oil company said its earnings were also hit by a $173-million charge, most of which will pay for environmental damages.

For the quarter ended Dec. 31, Texaco earned $324 million, or $1.15 a share, in the quarter, compared to a profit of $388 million, or $1.40 a share, in the same period in 1990. Revenue in the latest quarter totaled $9.8 billion, compared to $13 billion in the year-earlier period.

For the year, the nation’s third-biggest oil company said it earned $1.29 billion, or $4.61 a share, compared to $1.45 billion, or $5.18 a share, in 1990.