There is a huge difference between electrical tape and plumbing tape. There isn't one that exists to do both jobs because water and electricity don't mix! And yes they carry both of those in their respective departments.
What you're looking for is not a tape. It's a rubber type tube with a slit in it so it can be slipped over pipes. There is also fiberglass rolls/sheets that can be wrapped around pipes, water heaters, and air vents.
It's to keep your pipes from freezing
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