The shift from fossil fuels to renewable energy sources is crucial in addressing environmental challenges. Vegetable oils have been focused on as the main potential source for biodiesel and biolubricant production. However, due to their fatty acid (FA) composition they are characterized by low stability to oxidation and variable viscosity. Single-cell oils (SCOs) from oleaginous microorganisms are a possible alternative to vegetable oils: their composition is more suitable, and it can further be improved by controlling the fermentation’s physiological conditions. In the present study, the production of SCOs with targeted technological properties from Lipomyces starkeyi in fermentation under controlled temperatures was assessed. A dairy effluent (scotta) was used as the fermentation substrate to improve the economic sustainability of the process. Batch aerobic fermentations were carried out in a fermenter at two different temperatures (25 °C and 30 °C). The fermentation yields and SCO FA profiles were analyzed. The highest yields of biomass (9.76 g L−1) and microbial oil (1.83 g L−1) were obtained from fermentations carried out at 30 °C. Furthermore, a significantly lower content (46% vs. 55%) of unsaturated FAs and higher content (11% vs. 1.5%) of shorter-chain saturated FAs, with myristic acid almost matching stearic acid, were detected at 30 °C in comparison to 25 °C. Very low peroxide values were also found (0.14 meq O2 kg−1 at 30 °C and 0 meq O2 kg−1 at 25 °C). These results indicate that these SCOs were highly oxidation-resistant, and that a higher fermentation temperature improves their oxidative stability and tribophysical features. The biodiesels’ technological properties, calculated from the FA composition, were within the limits of both U.S. standards and E.U. regulations. Then, SCOs produced from L. starkeyi by fermentation of dairy effluents carried out under controlled temperature can be considered a suitable alternative to vegetable oils to produce biodiesel and biolubricants.