Mercedes Mullins
Propane fuel tanks come in a variety of sizes, from small portable tanks used for grilling to large tanks that can power an entire house. The price of a propane tank depends on its size and whether it is new or refurbished. A standard 20-lb tank costs around $35, while a larger 100-lb tank costs about $150. For a house, the cost of installing a propane tank ranges from $700 to $4,500, with the price depending on the size of the house, the number of gas-powered appliances, and the climate. Propane prices per gallon vary from $2.40 to $3.70 and are influenced by supply, demand, and production levels.
| Characteristics | Values |
|---|---|
| Installation cost | $700 to $4,500, with an average of $1,500 for a 500-gallon above-ground tank and $2,000 for an underground tank |
| Price range | $2.50 to $2.75 per gallon; $0.65 to $0.70 per pound; $2.40 to $3.70 per gallon at U-Haul |
| Tank capacity | 5 gallons to 2,000 gallons; commonly 20-30 lbs for outdoor appliances, 100-120 lbs for RVs, 325 gallons for small houses, and 500 gallons or higher for larger homes |
| Cost of tanks | $50 to $150 for small grilling tanks; $35 for a standard 20-lb tank; $150 for a 100-lb tank; $2,500 to $2,600 for a 1,000-gallon tank |
| Recertification | Required every 12 years from the manufacturing date and every 5 years after the first recertification |
| Building codes | Underground tanks must be installed at least 10 feet away from any traffic, building, or property line |
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What You'll Learn
Propane tank installation costs
The cost of installing a propane tank depends on several factors, including the size of the tank, the installation method, the location, and labour. The average cost to install a propane tank is $1,400, with most homeowners spending between $600 and $2,500.
Above-ground installations are generally more affordable than underground installations, with above-ground installations costing between $300 and $3,500, while underground installations range from $1,500 to $5,500.
The size of the tank is another important factor, with smaller tanks being less expensive than larger ones. For example, a standard 20-pound tank costs around $35, while a larger 100-pound tank can cost up to $400.
There are also additional costs to consider, such as concrete pads, gas lines, permits, and inspections. Concrete slab installation costs $5 to $10 per square foot, gas line installation costs $12 to $25 per linear foot, and permits cost $25 to $150. Underground tanks require excavation, which costs $100 to $300 per hour, and inspections cost $50 to $75 annually.
The location of the tank can also impact the price, as the further the tank is from the street, the more piping is required, adding $15 to $25 per linear foot.
It is important to note that propane tank installation is not a DIY project due to safety issues and should be left to professional installers.
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Cost per gallon
The cost of propane per gallon depends on various factors, including supply, demand, and production levels. Over the past few years, the price of propane has ranged from $2.50 to $2.75 per gallon, but it can fluctuate often. The actual price of propane is also tied to crude oil prices, with U-Haul locations and pay-at-the-pump options pricing it between $2.40 and $3.70 per gallon.
When purchasing propane, it's important to note that it is typically sold by the pound or gallon, and there are approximately 4.2 pounds of propane in one gallon. This means that when purchasing propane by the pound, you can expect to pay between $0.65 and $0.70 per pound.
The cost of propane tanks themselves also varies depending on their size and capacity. Smaller tanks for grilling or auxiliary use range from $35 to $150, while larger tanks with a capacity of 100 gallons or more can cost anywhere from $400 to $700. For a 500-gallon tank, the price can range from $1,200 to $2,000, and a 1,000-gallon tank can cost between $2,500 and $4,500.
It's worth noting that installing a propane tank can incur additional costs, such as permit costs and concrete pad foundations. The installation cost can vary based on whether the tank is aboveground or underground, with underground installations typically costing more due to site preparation requirements.
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Cost per pound
The cost per pound of propane fuel is around $0.65 to $0.70. This calculation is based on a gallon of propane weighing approximately 4.2 pounds. Propane prices per gallon have ranged from $2.40 to $3.70 in the past few years, but the cost fluctuates often due to supply, demand, and production levels.
For small grilling and auxiliary propane tanks, you can expect to pay between $50 and $150. A standard 20-pound tank costs around $35, while a larger 100-pound tank costs approximately $150. Smaller tanks for sale from tank exchange services often come with gas in them.
The cost to install a propane tank for a house ranges from $700 to $4,500, but on average, you can expect to pay about $1,500 to install a 500-gallon above-ground propane tank and $2,000 for a 500-gallon underground tank. Prices depend on the size of the house, the number of gas-powered appliances, and the climate, including heating requirements.
RV's and motorhomes typically use propane tanks ranging from 100 to 120 pounds, while a 325-gallon tank is sufficient for a small house with a few gas-powered appliances. A 500-gallon tank or larger is recommended for a bigger home that relies primarily on propane for heating.
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Cost of small tanks for grilling
The cost of small propane tanks for grilling varies depending on the size of the tank. Small tanks for grilling typically range from 20 to 30 lbs and can be purchased from hardware stores such as Home Depot, Lowe's, and Walmart, as well as U-Haul locations.
A standard 20-lb tank costs around $35, while a 30-lb tank can be found for around $79. Smaller tanks, such as those used for grilling, may also come in 5-gallon sizes, which are commonly used for barbecue grills and are portable and lightweight. These smaller tanks can be exchanged or refilled at propane stations.
The price of propane itself is usually between $2.40 and $3.70 per gallon, and some companies may only fill up to 100 gallons. The cost of propane fluctuates due to supply, demand, and production levels, so it is worth shopping around for the best price.
Overall, for small grilling propane tanks and the fuel to fill them, one can expect to spend between $50 and $150.
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Cost of large tanks for home heating
The cost of installing a propane tank for a house ranges from $700 to $4,500, with the average cost being around $1,500 for a 500-gallon above-ground propane tank and $2,000 for a 500-gallon underground tank. The price depends on the size of the house, the number of propane appliances, the local climate, and the geographical location. For example, a family of four in Michigan using propane heat might need a 500-gallon tank, while a larger household may require a 1,000-gallon tank. Underground tanks are more expensive but are better at handling colder temperatures and can increase the value of your home.
A 500-gallon propane tank is considered ideal for residential use and can supply an average 2,500-square-foot home for two to four months during winter or four to eight months in warmer seasons. The actual usage depends on factors such as home insulation, local weather, the number of propane appliances, and thermostat settings. A 1,000-gallon tank is recommended for homes with all appliances running on propane.
The cost of propane is about $2.60 per gallon, and a 500-gallon tank would cost around $1,040 to fill. The price of propane fluctuates depending on the season and location, with higher prices during winter and lower prices during summer.
It is worth noting that propane tanks larger than 500 gallons will typically require permanent underground installation. Additionally, tanks are sold empty by law, and it is important to ensure regular maintenance and safety checks.
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Frequently asked questions
The cost to install a propane tank for a house ranges from $700 to $4,500, but on average, expect to pay about $1,500 to install a 500-gallon above-ground propane tank and $2,000 for a 500-gallon underground tank.
Prices depend on the size of the house, how much of the home is gas-powered, and the climate, if heating is included.
Propane prices range from $2.40 to $3.70 per gallon. The cost fluctuates due to supply, demand, and production levels.
For smaller, portable tanks, you can weigh the tank and deduct the empty weight of the tank. Another method is to pour warm water over the side of the tank and run your hand from top to bottom to feel where the coldness of the propane starts, indicating how much is left.
