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How Much Does Oil Tank Replacement Cost?

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Key Takeaways

TopicKey Points
Average Cost$1,200 to $4,600
Types of TanksAbove-Ground, Underground, Basement
Cost FactorsLabor, Equipment, Disposal, Fuel Lines
Capacity ImpactCosts can vary significantly by tank size
LifespanOil tanks typically last 15-25 years
Replacement TimeTypically takes 4-6 hours

$1,200 – $3,300 Average Basement Oil Tank Replacement Cost

Replacing a basement oil tank generally costs between $1,200 and $3,300. Basement installations can sometimes be more straightforward since the tank is already inside the home, reducing complexities related to outside elements.

$1,200 – $3,200 Average Above-Ground Oil Tank Replacement Cost

The average cost to replace an above-ground oil tank ranges from $1,200 to $3,200. Above-ground options are often easier and less expensive to install and replace than underground tanks but are more exposed to environmental wear.

$1,600 – $4,600 Average Underground Oil Tank Replacement Cost

Underground oil tank replacement is the most expensive, costing between $1,600 and $4,600. The higher costs are due to excavation, soil testing, and increased labor requirements.

Oil Tank Replacement Cost

Replacing an oil tank is a significant home maintenance project with various associated costs.

Average Oil Tank Replacement Cost

National Average Cost$2,400
Minimum Cost$400
Maximum Cost$6,500
Average Range$1,200 to $4,600

Cost To Replace An Oil Tank By Home Location

Different home locations can impact the cost of oil tank replacement. Below is an overview of costs based on tank type and location.

Tank TypeAverage Cost
Above-Ground Oil Tank$1,200 – $3,200
Underground Oil Tank$1,600 – $4,600
Basement Oil Tank$1,200 – $3,300

Cost To Replace An Oil Tank In The Basement

Replacing an oil tank in the basement typically costs between $1,200 and $3,300. This range covers the price of the tank, labor for the replacement, and proper disposal of the old tank.

Above-Ground Oil Tank Replacement Cost

The cost to replace an above-ground oil tank is generally between $1,200 and $3,200. This includes the tank price, installation labor, and removal of the old tank.

Underground Oil Tank Replacement Cost

Replacing an underground oil tank is more complex and expensive, with costs ranging from $1,600 to $4,600. This includes excavation, soil testing, and additional labor required for installation and removal.

New Oil Tank Prices By Gallon

The size of the oil tank greatly influences the replacement cost. Below is a breakdown of average costs by tank capacity.

Tank Prices By Capacity

Capacity (Gallons)Average Cost (Single Wall)Average Cost (Double Wall)
100 – 250$300 – $2,200$900 – $3,800
250 – 500$1,000 – $2,100$1,200 – $5,300
500 – 700$1,000 – $4,900$3,000 – $8,500
1000+$2,800 – $5,200$5,100 – $9,700

Replacement Oil Tank Installation Cost Factors

Several factors affect the cost of replacing an oil tank. These elements include labor, equipment, disposal, and additional services.

Oil Tank Replacement Cost Factors

FactorAverage Cost
Labor and Equipment Cost$600 – $1,200
Oil Pumping and Disposal$50 – $150
Old Oil Tank Removal$250 – $600
Concrete Pad Setup$50 – $175
Soil Testing$250 – $550
Fill Dirt$150 – $600
New Fuel Lines$15 – $20

Cost To Repair Or Replace Oil Tank Parts

Maintaining an oil tank sometimes only requires part replacements or repairs. Costs for these parts can vary.

Cost To Remove An Oil Tank And Furnace

Removing an oil tank and furnace may be necessary during a replacement. This additional task increases the overall cost. Generally, removal can add another $500 to $1,200 to the project.

Frequently Asked Questions

How Long Does An Oil Tank Last?

Oil tanks typically last between 15 and 25 years. Regular maintenance can extend the life span.

When Should I Replace My Oil Tank?

Signs such as rust, leaks, and inefficiency indicate that it might be time to replace your oil tank. Regular inspection helps in determining the right time for replacement.

How Long Does It Take To Replace An Oil Tank?

Replacing an oil tank usually takes about 4 to 6 hours. This timeframe includes removing the old tank, installing the new one, and ensuring everything is operational.

Getting Quotes From Oil Tank Replacement Companies

Questions To Ask

When obtaining quotes from oil tank replacement companies, consider asking the following questions:

  • What is the total estimated cost?
  • Does the quote include oil tank removal and any required soil testing?
  • How long will the replacement process take?
  • What warranties are offered on the new tank and the installation work?
  • Are there any additional costs that I should expect?

For more detailed information on specific costs and options for your oil tank replacement, contact a local professional for an accurate quote based on your needs.

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