While the driver was able to escape the inferno, the products inside the B-double didn’t.
The accident happened on the Federal Highway at Wollogorang, southwest of Goulburn, about 11.30am.
It’s believed the fuel tank ruptured after the truck hit a guard rail.
“It’s very lucky that (the driver was) able to get out of the cab before it was completely engulfed in flames,” Goulburn Fire Station Officer James Downey told 7 News Sydney.
The fire spread on to nearby grass but was able to be extinguished by firefighters.
The driver was treated by paramedics for minor injuries.
Traffic was backed up for most of the day, with all lanes only reopened about 4pm.