Question: how much does it cost to replace a home heating oil tank?
Answer: The average cost of replacing an oil tank is $1,882. The cost ranges from $800 to $3,800 to install a 220 to 330 gallon oil tank. Oil tanks are built to last 10 to 15 years - eventually they will need to be replaced by a heating oil company. Most oil tanks are installed in the basement or underground.