Australian drivers did a double-take this week after spotting fuel prices that looked like they belonged in another decade.
At a time when fuel prices are climbing across Australia, one gas station in Melbourne is selling unleaded for just AUD $0.99 per liter.
That’s roughly half the price Australians are currently paying at the pump at other gas stations.
The catch? Not everyone can fill up there.
Billionaire Adrian Portelli Opened The Station
Adrian Portelli, better known in Australia as “The Lambo Guy,” opened the first LMCT+ fuel station in Preston, Melbourne.
The station officially opened on April 23 and quickly drew long lines of drivers hoping to take advantage of the unusually low fuel prices.
According to reports, around 20 vehicles were already waiting when the station opened.
Police were also reportedly on-site to help manage traffic.
There’s A Membership Catch
This isn’t a traditional gas station.
Fuel is only available to LMCT+ members.
Customers can either:
Pay for a regular LMCT+ membership priced between $20 and $100 per month
Buy a dedicated fuel membership for $99.99 annually
That fuel membership gives drivers access to wholesale-priced fuel for 12 months.
With nearby gas stations reportedly charging around $2 per liter, frequent drivers could save money fairly quickly.
Portelli Says He’s Losing Money Right Now
During an interview with ABC Radio, Portelli admitted the business is currently operating at a loss.
He said selling fuel at $0.99 per liter isn’t profitable right now.
However, he made it clear that the pricing strategy won’t last forever.
According to Portelli, the long-term goal is still to build a profitable business.
LMCT+ Keeps Expanding
LMCT+ originally built its business around discounts, giveaways, and prize promotions.
Members often receive discounts at partner retailers while also gaining entries into major prize draws.
Portelli says fuel is just the beginning, hinting that grocery stores could be next.
If that happens, Costco may have a new competitor in Australia’s membership-based discount space.