May 11, 2012. Oil minister S Jaipal Reddy said refiners had invested over ' 32,000 crore in upgrading facilities for producing better quality of Euro-III and Euro-IV petrol and diesel. In line with the auto fuel policy, lead was phased out from petrol completely from Feb 1, 2000, he said. The government had simultaneously introduced BS-IV (or Euro-IV) grade auto fuels in certain metros and BS-III (or Euro-IV) grade auto fuels in major towns.