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The weekly (1/23/12) average national cost of Residential Heating Oil was $3.938 per gallon. To fill a 175 gallon tank the fill up cost would be $594.65 or an annual cost of approximately $2,378.60 (4 fills per year). The weekly (1/23/12) average national cost of Residential Propane was $2.863 per gallon. To fill a 250 gallon tank the fill up cost would be 715.75 or an annual cost of approximately $2863.00 (4 fills per year).
Installing an underground tank can cost around $1,800-$3,000 for 500 gallons and $2,000-$3,500 or more for 1,000 gallons. A Wisconsin propane dealer charges $1,599 to install a typical 500-gallon aboveground tank and $2,995 for a 1,000-gallon underground tank.