The Truth About Tank Ownership

This section of our webpage will discuss our professional opinions of owning your own propane gas tank.  We, at Walter's Propane will not sell a residential or commercial propane gas tank or related propane gas regulating equipment.  However, their are companies out in our professional field that will sell this equipment. 

The first and really only reason one would want to own their propane tank is for the simple reason of price.  The average price on the heating level of propane pricing is about 50-60 less per gallon.  Depending on lower useage, it can be an average as 70-90 cents per gallon.  Of course, on the low, low useage it can range in several dollars per gallon. 

To understand propane useage, we must let one know various uses of propane.  Use in comparision is in US gallons.

-When someone heats or has multiple use, use is about 600-1200 per year.

-When someone has hot water use, use is about 200-300 per year

-When someone use is a space heater/ hearth heat, use 200 per year.

-When someone cooks or has a gas dryer, use is about 20-40 per year.

-When someone has a cooktop only, use is less than 20 per year.

With this information, we, as a propane company supplies a propane tank (s), regualting equipment, blocks for underneath the tank (s) and full coverage insuarance.  We will supply the right size tank for your situation so it is not too much, nor too little.  Having too big of a propane tank is a waste for the consumer to have on their property dollarwise.  Having to small of a tank will make an inconvience if you run out. 

When you, as a consumer own a propane tank, you must understand that you are not just "owning a piece of steel"  on your property.  You are responsible for keeping up the tank (above ground) by painting the tank as rust apears.  Also, you must know that there is a risk of weld leaks in the tank.  If you have a DOT tank, then that tank will need to be inspected after a period of 12 years.  An ACME tank can be in place for a indefinate period of years, but needs to be inspected every 12 years as we do with ours.   You are responsible for upkeep of the relief valve, service valve and filling valve.  Relief valves must be replaced every 15 years.  The consumer is responsible for the regualtor.  The regulator is the item or items, depending on the situation, takes the tank pressure and converts the gas pressure out of the tank to house pressure.  Regulators must be replaced every 12 years.  Underground propane tanks have andode bag (s) to condition the steel of the LP gas tank.  These bag (s) must be tested every 5 years.

As part of our service of supplying you propane gas equipment on your property, if anything needs to be addressed related to the propane tank gas system, we at Walter's Propane take care of all issues at no charge as it is our equipment.  Plus, any propane lost due to our equipment is replaced. 

When the consumer owns the propane "equipment", they are responsible for repairs and maintenance of the propane equipment system.  Many people once again think that it only a "piece of steel" on your property.  It is not.  If there is to be something wrong as a leaking regulator (which happens a lot), you, the consumer must pay for the new regualtor and the service time of repairing the problem.  This example can result in an expense of $300.00.

The consumer must also face the expense of the purchase of buying the propane tank, regulator (s), blocks to ones property.  The average price of a 120 gallon propane tank is $900.00.  The average price of a 500 gallon propane tank is $2100.00. This DOES NOT include the regualtor (s), blocks, or andode bags (if needed).  A lot of money, to try and save money and assume the responsibility.

A very important question also arises is that in the event that one does not wish to have propane on your property.  What do you do with the propane tank you own?  If we own it, we take it away, if you own it, you will pay for all expenses to take the equipment of your property.  We have had customer owned tanks leak on a property that was bought by a new homeowner.  He had no idea who his company was or any idea if the tank was customer owned.  He was glad that he called Walter's Propane to replace the "unknown" tank with one of our tanks to provide service.  We took to "leaking" tank and disposed of it properly, but at a cost.

Another important fact is if you own your propane tank and related equipment, it is a good idea to tell you homeowners insurance policy about it.  Many insuance companies will not even reconize this, UNTIL something happens, then they will.  ONCE AGAIN, you are responsible for a propane tank and related equipment that you own.  In very simple terms, if it blows up, you are responsible.

Even though we do not "like" the tank ownership system, we will fill your propane tank if you own it.  We need to see proof of ownership and if we are to fill it a first time, knowledge of your system must be obtained by our driver.  We must do a leak check and will not deliver unless these conditions are met.   

The last statement in conclusion is why would anyone want to own their propane tank and related equipment when it is supplied by a honest propane company that sells their propane at honest prices?