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The principal components of oil firing equipment responsible for supporting combustion are indeed oil burners. Oil burners are specifically designed to mix fuel oil with air in the correct proportions to achieve efficient combustion. They atomize the oil, creating a fine mist that allows for better mixing with air, leading to more complete combustion and reduced emissions.

This functionality is critical as it directly impacts the efficiency of the heating system and the safety of operation. The burner ensures that the oil is delivered at the right flow rate and pressure to maintain the appropriate flame characteristics needed for burning.

In contrast, the other components listed serve different functions. Heat exchangers are crucial for transferring heat from the combustion process to the water or air being heated but do not support the combustion process itself. Pressure valves help regulate the pressure of the fuel but are not directly involved in the combustion. Fuel tanks store the oil, but they do not contribute to the combustion process directly. Hence, oil burners are essential as they are responsible for the successful ignition and burning of fuel oil, making them the correct answer in terms of supporting combustion.