LMCT+ petrol stations: Billionaire Adrian Portelli promises $1 petrol amid fuel crisis to launch business
Businessman Adrian Portelli is making his first foray into fuel and is promising $1 unleaded fuel as part of the launch.
Billionaire businessman Adrian Portelli is making his first foray into fuel and is promising $1 unleaded fuel as part of the launch.
Mr Portelli – who owns LMCT+, a promotions and giveaway company – posted on Instagram saying that at his petrol station’s soft launch on Thursday, unleaded fuel will be $1 for members of his company.
“Because you guys supported me, I’m going to support you guys,” he said.
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The first site of LMCT+’s fuel endeavour will be in Preston, Victoria.
According to Fuel Radar, unleaded petrol in Victoria is averaging $2.043 a litre.
Mr Portelli told his Instagram followers there were 50 other LMCT+ fuel sites under negotiation across the country, including in South Australia.
How LMCT+ petrol will work
While the details of the promotion are not entirely clear, terms and conditions on LMCT+ Petroleum’s website reveal more information about the ongoing discounts that will be available to members.
“Eligible members” will be able to access discounts as a cents-per-litre reduction from the standard pump price.
Discount rates will be determined by membership tiers and are non-transferrable.
“The specific discount rate applicable to your membership tier will be displayed within your LMCT+ member dashboard and is subject to change at the sole discretion of LMCT+ and/or LMCT+ Petroleum at any time, with or without notice,” the website says.
In addition to savings at the pump, members will also be able to earn rewards and entries to monthly prizes, however, details on how the prizes can be won are yet to be revealed.
Mr Portelli is the primary sponsor of Channel 7’s My Reno Rules, which premiered on Tuesday night.
It is not the first time the billionaire has given back. Before Christmas, Mr Portelli also handed out hundreds of thousands in supermarket vouchers to help Aussies before the festive season.
Last year, he ranked fourth on AFR’s Young Rich List, with an estimated net worth of $1.41 billion.
