How long does it take to use 1000 gallons of oil? Fuel oil does not get better with age and they deliver oil every day. Maybe you could go with a smaller tank and more frequent deliveries, ensuring fresh oil. In NYS, DEC requires registration (at a cost, of course, and with inspections and potential fines) for any piece of property with storage capacity of 1100 gallons or more of petroleum products. A 1000 gallon fuel oil tank would not leave much capacity left for any other necessary tanks if your rules are similar. The 1100 gallon limit is storage capacity, not the amount actually stored. Consequently, if I had a 1000 gallon tank and another 100+ gallon tank that was used to store a single gallon of petroleum, registration would be necessary.