The blast caused dilapidation of a market and a house above it, Daily Mail Online reported.
'Witnesses described the scene of devastation that greeted them after the blast echoed through the heavily populated area,' it said.
'There has been a major incident on Hinckley Road, Leicester. All emergency services are currently dealing with this. Carlisle Street and part of Hinckley Road have been closed Please avoid the area,' Leicester Police announced in a Twitter message.
All streets leading to the accident site have been blocked and evacuated.
There is no report on the casualties of the massive explosion.
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