LMTC+ petrol stations: Billionaire Adrian Portelli promises $1 petrol amid fuel crisis to launch business
Billionaire businessman Adrian Portelli is taking his first step into the fuel industry, promising $1 unleaded fuel as part of the launch.
Mr. Portelli, owner of LMCT+, a promotional and gift company, posted on Instagram saying unleaded fuel would be $1 for company members at the gas station’s debut on Thursday.
“Because you supported me, I will support you,” he said.
“One dollar in fuel, just for my members.”
The first site of LMCT+’s fuel operations will be in Preston, Victoria.
Accordingly Fuel RadarIn Victoria, unleaded petrol costs an average of $2,043 a litre.
Mr Portelli told his Instagram followers there were 50 other LMCT+ fuel sites in negotiations across the country, including South Australia.
How will LMCT+ gasoline work?
While the details of the promotion are unclear, the terms and conditions on LMCT+ Petroleum’s website reveal more information about the ongoing discounts that will be offered to members.
“Eligible members” will be able to enjoy discounts with cents per liter off the standard pump price.
Discount rates will be determined according to membership levels and are not transferable.
“The specific discount rate applicable to your membership level will be displayed in your LMCT+ member dashboard and is subject to change at any time, with or without notice, at the sole discretion of LMCT+ and/or LMCT+ Petroleum,” the website says.
Members will be able to earn rewards in addition to savings at the pump and entry to monthly rewards, but details on how to earn rewards have not yet been announced.
Mr Portelli is the main sponsor of Channel 7’s My Reno Rules, which premiered on Tuesday night.
This isn’t the billionaire’s first comeback. Before Christmas, Mr Portelli distributed hundreds of thousands of supermarket vouchers to help Australians ahead of the festive season.
Last year it ranked fourth AFR’s Young Rich ListHis estimated net worth is $1.41 billion.
