The explosion, captured on videos making the round on social media, was reportedly caused by a tanker at a state-owned gas station around 7:30 pm local time.
Ghana National Fire Service spokesman Billy Anaglate said investigations were underway and it was too early to determine the exact cause of the fire.
According to eyewitnesses, the place looked like a worn torn zone with fire everywhere and people running for their lives.
The blasts will likely revive memories of June 2015 when more than 150 people were killed as they sought shelter from seasonal rains and flooding at a petrol station. "And the ambulance services assisted us to move all the injured persons to a number of medical facilities round".
In a statement signed by Information Minister Mustapha Hamid, the government said as of 11:30am on Sunday, at least seven people have been confirmed dead and 132 injured.
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A massive gas station explosion rocked the city of Accra in Ghana on Saturday evening.
It is also near a high school and the University of Ghana campus.
On Sunday morning, burned steel frames showed where the station was razed by the explosions.
At least six fire trucks and more than 200 police personnel were deployed to help cordon off the area.
Infrastructure in Accra, a city of roughly 7 million people, has failed to keep pace with population growth after years of rapid economic expansion.