A man has been killed after a tanker and a car collided on Victoria's Mornington Peninsula.

The tanker, carrying flammable material, collided with the car at about 8.15pm on Thursday near Tyabb, Victoria Police said.

A Victoria Police spokeswoman said a man travelling in a Mercedes sedan crossed onto the wrong side of the road and crashed into the tanker which was carrying LPG and petrol.

The driver of the Mercedes was killed in the crash but the tanker driver escaped serious injury.

Explosions and a fire were reported after the crash, with emergency services prevented from getting closer to the scene because of the blaze.

Tyabb local Bruce Thompson said he heard a series of explosions from his home, which is about 500m from the accident site.

"I heard a massive explosion and then five or six smaller explosions after that," he said.

"It really shook the house."

Mr Thompson said there had been smaller incidents on the highway but it was a good road.

A Country Fire Authority spokeswoman said at least 100 firefighters had worked to extinguish the blaze caused by the explosion.

Ambulance Victoria said a man was treated at the scene for minor injuries.

He was taken to Frankston Hospital in a stable condition.