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120 Gallon Propane Tank A 120 gallon propane tank is commonly used for hot water, cooking and/or a fireplace. Installation of a 120 gallon propane tank is a great solution when you need a propane tank but don’t want to see it. Includes tank dome and lid for 120 gallon propane tank. This propane tank is installed underground.  120 gallon propane tank is only available for sale on Long Island.