Adrian Portelli's $1.79 Fuel: Disruption or Distraction?
Block billionaire Adrian Portelli is building LMCT+ petrol stations promising fuel under $2 a litre. We break down the plan, the economics and what it means for Australian drivers.
A Billionaire Walks Into a Servo
While the federal government tells Australians to drive less and plan their trips, Adrian Portelli has taken a different approach. The Melbourne property investor, LMCT+ founder, and self-described disruptor is building his own chain of petrol stations — and he's promising fuel at prices that haven't been seen since before the crisis began.
Concept pricing on the digital boards at his first site shows fuel as low as **$1.79 to $1.99 per litre** for LMCT+ members. For context, the national average for unleaded is sitting around **$2.31/L** right now, and diesel has been hitting **$3-plus** in some areas.
If those prices are real — and that's a significant 'if' — LMCT+ members could save **$34 or more on a 65-litre fill** compared to the national average.
:::info Portelli's estimated net worth sits around **$1.4 billion**, built primarily through property investment, app development, and the LMCT+ membership platform. He's perhaps best known as 'Lambo Guy' from Channel 9's The Block, where he bought all five Phillip Island properties in 2024 for $15 million. :::
What's Actually Being Built
The first LMCT+ petrol station is taking shape at a former Shell site on the corner of **Gower Street and Plenty Road in Preston**, one of Melbourne's busiest inner-north intersections.
Construction photos shared on Portelli's social media show a full station transformation: massive digital price boards, multiple fuel pumps, oversized screens, and heavy LMCT+ branding. Fencing around the site is wrapped in 'Want cheaper fuel?' banners with QR codes directing passers-by to sign up.
The station will offer four fuel grades with car-culture branding: **Street, Sport, Race and Torque** — replacing the standard ULP, Premium 95, Premium 98 and Diesel labels. There's also an integrated **rewards hub** built into the station, linking fuel discounts to the broader LMCT+ membership ecosystem.
Portelli claims **50 additional sites** are under negotiation, including locations outside Victoria, with a national rollout expected to begin soon.
The LMCT+ Model: How Does $1.79 Fuel Make Money?
To understand whether these prices are sustainable, you need to understand how LMCT+ actually works.
[LMCT+](https://lmctplus.com/) is a subscription-based membership platform that bills itself as 'Australia's best rewards club and shopping tool'. Members pay a **monthly fee** for access to discounts at over 2,000 partner businesses — from automotive workshops and homewares to merchandise — plus entries into prize draws for luxury cars, homes and cash. The platform generates over **$70 million annually** and has more than **100,000 subscribers**.
The business model for fuel may not need to profit from fuel at all. If LMCT+ can use cheap petrol as a **customer acquisition channel** — getting people to sign up for memberships that generate recurring revenue — then it makes sense to sell fuel at or below cost.
Here's the rough economics:
| Factor | Typical Servo | LMCT+ Model (Estimated) | |---|---|---| | Wholesale fuel cost (ULP) | ~$2.05/L | ~$2.05/L | | Retail margin | 10–17c/L | Near zero or negative | | Retail price | $2.20–$2.40/L | $1.79–$1.99/L | | Profit source | Fuel margin + shop sales | Membership fees + prizes ecosystem |
This is essentially the **Costco model** applied to fuel — use petrol as a loss leader to drive membership sign-ups. Costco's servo at Marsden Park in Sydney consistently sells fuel 15–20 cents below surrounding stations, funded by membership fees.
:::tip If you're comparing fuel costs between an LMCT+ station and your local servo, remember to factor in the **membership fee**. Use [FuelCalc's Economy Tracker](/economy-tracker) to log your actual costs per fill and see whether the savings are worth it over time. :::
The Sceptics Have Questions — Fair Ones
Not everyone is convinced. And there are legitimate questions to ask.
**Where does the fuel come from?** Australia is in the middle of a supply crisis. We import roughly 90% of our refined fuel, shipping routes through the Strait of Hormuz are disrupted, and hundreds of stations have experienced dry pumps. Portelli hasn't publicly disclosed his wholesale fuel supply arrangements. An independent chain of 50 stations would need significant and reliable supply contracts — something that's genuinely difficult to secure right now.
**Are the prices real?** The $1.79–$1.99 figures come from concept images on digital boards at the construction site. These are marketing mock-ups, not confirmed retail prices. Until pumps are actually dispensing fuel at those rates, they remain aspirational.
**The gambling controversy.** LMCT+ has faced ongoing regulatory scrutiny. The Victorian Gambling and Casino Control Commission (VGCCC) investigated the business, and in South Australia, LMCT+ was found **guilty on 10 charges** of conducting unlawful lotteries — resulting in a $40,000 fine. Portelli personally was found not guilty, but the business conviction raises questions about the promotional model that these servos are designed to feed.
Tim Costello from the Alliance for Gambling Reform has been vocal in his opposition, calling Portelli a 'loophole merchant' and warning that petrol station kiosks could become gambling sign-up points.
:::warning LMCT+ operates as a trade promotion lottery — legally distinct from gambling in most states, but the regulatory landscape is shifting. The SA conviction may prompt other states to tighten rules around prize-draw memberships. :::
Why People Are This Desperate for Cheap Fuel
The public reaction to Portelli's announcement has been extraordinary. Comments across social media range from genuine excitement to calls for him to run for Prime Minister. And that reaction tells you everything about where Australians are right now.
The fuel crisis timeline in 2026 has been relentless:
- **January–February:** Prices begin climbing as Middle East tensions escalate. Brent crude pushes past US$100/barrel. - **March:** Diesel shortages hit regional areas. Stations run dry. The government activates fuel security measures. - **Late March:** National Cabinet halves the fuel excise from 52.6c/L to **26.3c/L** for three months — saving about $17 on a 65L fill. - **Early April:** States add a further 5.7c/L by waiving GST on excise — bringing total relief to ~32c/L. But wholesale prices keep rising. - **Mid-April:** Prices have eased slightly to ~$2.31/L for ULP, but diesel remains above $2.70/L. Hundreds of stations still report supply issues.
Into this environment walks a billionaire saying he'll sell fuel for $1.79. Whether or not the economics work, the messaging lands perfectly.
For many Australians, Portelli's plan represents something the government response hasn't delivered: a sense that someone is actually *on their side* rather than telling them to drive less.
How This Compares to Other Cheap Fuel Plays
Portelli isn't the first to try disrupting Australian fuel retail. Here's how LMCT+ stacks up against existing discount models:
| Operator | Discount Model | Typical Saving | Catch | |---|---|---|---| | **Costco** | Members-only servo | 15–20c/L below average | $65/year membership, limited locations (15 sites) | | **Woolworths/Coles** | Fuel dockets from groceries | 4–10c/L off | Requires $30+ grocery spend, savings capped | | **7-Eleven Fuel Lock** | App-based price lock | Varies (lock lowest price) | Must lock before filling, prices update daily | | **LMCT+ (promised)** | Members-only, subscription | 30–50c/L below average (claimed) | Monthly membership fee, unproven at scale |
The claimed LMCT+ discount is **significantly larger** than any existing model. That's either a sign of genuine disruption or unsustainable marketing. Time will tell.
:::tip Whatever happens with LMCT+, the best way to manage your fuel costs right now is to **track what you're actually spending**. FuelCalc's [Economy Tracker](/economy-tracker) lets you log every fill-up, see your running cost per kilometre, and spot patterns in your spending over time. :::
The Bottom Line
Adrian Portelli's LMCT+ servo play is ambitious, polarising and perfectly timed. Whether it delivers genuinely cheap fuel at scale or becomes an elaborate membership marketing exercise, it's tapped into something real: Australians are fed up with fuel prices and they're looking for anyone — government, billionaire, or otherwise — who'll actually do something about it.
The first Preston station hasn't opened yet. Fifty more are allegedly in negotiation. The concept prices look incredible but remain unconfirmed. The business model could work if membership revenue subsidises fuel losses. And the regulatory risks around LMCT+'s promotional lottery model are real.
For now, the smartest move for Australian drivers is the same as it's always been: **compare prices, track your spending, and don't fill up on impulse**. If LMCT+ opens near you and the prices are as promised, great — your FuelCalc data will show exactly how much you're saving. If not, you'll know that too.
:::info Want to see how much you're spending on fuel right now? Use FuelCalc's [Economy Tracker](/economy-tracker) to log your fill-ups and get weekly, fortnightly and monthly driving cost breakdowns. When LMCT+ stations open, you'll have a real baseline to compare against. :::
Tags: Adrian Portelli, LMCT+, petrol prices, fuel crisis, cheap fuel, petrol station, servo, fuel discounts, Melbourne, fuel prices 2026, independent servo, The Block