We used to as kids, as when the heating oil driver showed up, we just had him top off a 55 gallon drum. But now that minisplits are in vogue, and oil furnaces are being removed from homes, there are plenty of used 275 gallon oil tanks around. I got (3) unused ones now.
There is nothing wrong with using a 55 gallon drum, but as mentioned, used oil tanks might be around too.
Only issue with plastic is you need to avoid direct sunlight which will destroy white plastic quickly. Colored barrels will last longer but still need to keep them out of direct light in order to keep them flexible for longer time.
.............................................I found that was annoying to use a dip stick to check the level, so I went and got another 'new' to me white one so I could see the level..................................................
Unless I'm still in my jammies, I ALWAYS have a Streamlight Microstream in my left pocket. To check the level in the blue barrel it's a simple matter of twisting the 2" bung plug out of the barrel, looking in, and shining the light at the barrel from the outside.