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No casualty was reported, an official said, adding that traffic movement on the road was affected for a couple of hours.
The incident took place at 6.15 am at Patel Nagar, Shilphata, near the highway exit in Khopoli area, he said.
According to the official, the driver lost control over the wheels due to which the speeding tanker overturned.
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After receiving information, the Khopoli police reached the spot. Fire-fighting vehicles of Tata, Godrej groups, HPCL and JSW were also rushed to the spot, the official said.
The blaze was later brought under control, he said.