Business and council leaders have pledged to fight plans by BP to resume storage of petrol and diesel at the Buncefield oil depot.
Eighteen months ago the terminal in Hemel Hempstead, Herts, was the site of the largest explosion experienced in peacetime Europe. No-one died in the blast but 43 people were injured, two seriously.
BP has announced it intends to resume storing fuel at the depot next spring - but local firms fear this could damage their fragile recovery from the blast.
Roy Bain, director of the Maylands Partnership, which is working to regenerate the site, said business and community confidence was badly hit by the explosion.
He added: "Inevitably the Buncefield explosion has left a degree of heightened anxiety regarding petrol storage.
"Our concern is that bringing petrol back may cause some businesses to leave, and may make it harder to attract new ones.
"BP arguably are playing fast and loose with the livelihoods of 16,500 people."
BP submitted two planning applications this month for work to enable it to supply aviation fuel to Heathrow Airport via a pipeline from Buncefield.
The firm stressed that the blast did not happen in its part of the site and that it was "very aware" of the business community's concerns.
The oil giant said in a statement: "We are fully aware of the concerns and anxieties of the business community and residents about the introduction of petrol and diesel storage on the site next year. Safety is our priority. We will not re-open the site until we have had the all-clear on safety issues."
