Different factors can contribute to an oil tank’s failure. The common one is rust. When a heating oil tank gets into contact with water, it will mix with Sulphur, and the result will be a corrosive agent that causes rust. Water can get into the oil tank in different ways, but the common one is through bad oil, condensation, or when the fill box is poorly sealed. The soil conditions can also contribute to corrosion. If you come across any of these issues, you will be interested in oil tank removal costs.
Oil Tank Removal Cost
Oil tank removal cost needs at least three estimates before the project can commence. The removal cost is higher for buried tanks than for the ones situated above. The cost of replacement is also similar. Some of the factors that usually affect the removal cost include local regulations, local rates, the tank’s condition, and size. The ground condition also matters. To remove an oil tank, you need a permit. It is advisable to take pictures and document the entire oil tank removal process.
Removal Costs for an Underground Oil Tank
The cost is dependent on the surrounding soil and the tank’s condition. The underground tanks are usually removed to prevent contamination of the ground. In such an instance, the cost will escalate as the project progresses. The cost of removal should comprise soil testing and the removal of the underground tank. When there is significant contamination, the costs will be extremely high.
Replacement Costs of an Oil Tank
The replacement costs include the cost of a tank that will be placed above the ground. Some of the factors to consider include the location, type of tank, and size. The prices of the oil tanks are dependent on the tank construction type. Modern oil tanks have been manufactured using steel or fiberglass.
Installation Cost of the Oil Tank
The replacement cost is dependent on the labor costs and the oil tank prices. You can negotiate the replacement costs in an instance whereby several homes in the locality need replacement services. To install a new tank, you need a permit issued by the environmental protection agency and the local fire department.
The Cost of a Home Heating Oil Tank
The prices of the oil tanks are dependent on how the tank has been constructed. The underground tanks cost more, and they are larger. Nonetheless, they are prone to environmental degradation. The tanks being installed above the ground can be placed in the shed or basement.
The Prices of a 275 Gallon Oil Tank
The tank comes in different shapes. A 275-gallon tank will cost at least $800 if it is horizontal, and it is made of carbon steel. The vertical tanks cost slightly more. A heavy-duty steel tank will cost $1000, and it can be placed on a high steel stand.
Testing the Oil Tank
Oil firms have employees who can assist with the oil tank inspection. The inspection can be conducted in different ways. For instance, a pressure test can be conducted. There are instances whereby the team conducting the tests needs some advanced electronic equipment. The process of testing whether there is water is easy. Positive results mean that the tank is not leaking.
Scanning radar equipment can be used to conduct the tests on the buried steel tanks. Soil testing is mandatory for the underground tanks. When the tank leaks, the oil will be absorbed by the surrounding soil—the testing costs at least $300. To test for leaks in an underground tank, you’ll have to part with $500. For old tanks, you can carry out tank replacement without the need for testing.
The Sizes of the Oil Tanks
There are two types of oil tanks. Some tanks are installed above the ground, whereas others are installed below the ground. The oil storage tanks usually have a capacity ranging from 50 to 20,000 gallons. For residential purposes, the tank capacity does not exceed 1000.
Insurance for Oil Tank
As you calculate the replacement and removal costs, you should factor in the insurance costs for the oil tanks. It is advisable to get pollution liability insurance.