How Much Does An Oil Tank Cost

When it comes to installing or replacing an oil tank on your property, it is useful to know how much you might need to budget and what the different costs involved are.

In this post, we’ll discuss the average costs, factors influencing these costs, and key considerations to help you make your decision.

All prices provided in this post are averages across the UK. Please speak to one of our team for a more accurate cost in your area.

OIL TANK INSTALLATION COST

The cost of installing a new oil tank can vary widely depending on several factors, including the size and type of the tank and the complexity of the installation.

On average, you can expect to pay anywhere from £1,000 to £2,500 to install a new oil tank. Generally, this will cover the cost of labour and materials provided it is an easy installation. The cost of the tank itself can be in addition to this, depending on the type of tank you need.

If access to where the tank needs to be installed is tricky, a trench must be dug for a new oil line, or a new base needs to be laid, this can add up to £2,000 in cost.
To find out more about where to locate your oil tank, check out our post on Oil Tank Regulations.

OIL TANK REPLACEMENT COST

If you already have an oil tank on your property that needs replacing, the costs are generally slightly higher due to the added steps of removing and disposing of the old tank.

As with installing a new tank, the cost of replacing it can vary significantly based on the type, size, and location of your tank and whether additional work needs to be done to the site where the oil tank is located. On average, you would look at around £1,500 to £4,000 for the replacement.

The good news is that with a good quality tank and proper maintenance, your new oil tank can last up to 10 years, so it can take some time before you need to consider these costs again. We have plenty of guides with further tips and advice on servicing and maintaining your tank under our Tips & Advice section.

FACTORS TO CONSIDER WHEN LOOKING AT COST

There are many factors to consider that can influence the total cost of your oil tank installation or replacement. The main ones to think about are:

Tank Size & Type: Larger, bunded, and steel tanks tend to cost more.

Location & Accessibility: Difficult-to-reach areas can significantly increase labour costs, especially if specialist equipment is needed to get to the site.

Base & Supply Line: Preparing the base for a tank, such as a concrete slab or other stable platform, adds to the cost, as does digging a new trench for a supply line.

OIL TANK COST FAQs

ARE THERE ANY ONGOING EXPENSES OR MAINTENANCE COSTS?

In short, there will be ongoing costs as it is advised to have your tank serviced annually to ensure it is in top condition and to help extend its longevity. Contact our team for advice on how much this will cost.

WHAT’S THE AVERAGE COST OF AN OIL TANK INSTALLATION?

On average, you can expect to pay somewhere between £ 1,000 and £2,500 to install a new oil tank.