As with Motor Act 1903, these are only extracts, for interest only.
Petrol Duties and Licences
Motor Spirits, whether manufactured in the United Kingdom or abroad, has to pay a duty of 3d per gal. This duty is repayable to persons using the spirit otherwise than for motive power in motor vehicles. Half the duty is repayable when the spirit is used for commercial vehicles or hackney carriages, or by a medical man for professional purposes. The cost of an annual licence for a dealer in motor spirit is 5s, but 1pt can be sold at a time without a licence.
Very long winded but basically you could store 60 gals providing you stored it in a seperate building at least 20 feet away from any other building or highway. You could keep any other amounts of 60 gals in other buildings providing there were no buildings or highways within 20 feet of those buildings. However every January you had to notify 'the proper authorities' that you were doing so, so that an Inspector could visit to ensure the safety of residents. All care to be taken to prevent the risk of explosion or fire, and the prevention of others from doing the same. Petrol not to be used for lighting, cleaning or as a solvent in any building used for the storing of a motor car.