The Demerara Oxygen Company (Docol) says it has reduced the cost of TexGas, effective yesterday.
In a press release Docol, the bottlers and distributors of TexGas said the price of a 9 kg or 20 lb cylinder of gas will be retailed at $2,900 in Georgetown, along the West Coast and West Bank and East Coast and East Bank. It will be sold at $3,000 in all other areas.
Docol CEO Shameer Hoosein said the reduction is due to a drop in oil prices on the world market. He said too the company is also benefiting from a 50% boost in its filling capacity since it installed an LG filling plant at its head office at Eccles.
Hoosein said the price has dropped steadily on the local market since September after it had reached a high of $3,750 earlier this year.
The new prices are comparable to September 2007; he said adding that the company is confident that the reduction will help to ease the burden on consumers during the holiday season.
