Deregulation of diesel prices not possible: Reddy

New Delhi, Jan 27 (PTI) Oil Minister S Jaipal Reddy todayruled out deregulation of diesel prices, saying it is notpolitically and practically feasible.

"It is not possible, (right now)" Reddy told reportershere.

"Let me make it clear, I agree in theory that dieselprices should be deregulated, but whether it is practicallyand politically feasible is totally different," he added.

Reddy, who replaced Murli Deora as the new Oil Ministerlast week, had said that one of the major task at the nation''shighest economic turnover ministry is clearly cut out --avoiding fuel price hikes.

While oil companies have been pressing for a hike indiesel and domestic LPG prices after global oil prices rose toUSD 92 per barrel, he had said a balance would have to bestuck.