The fire started early Sunday at an oil depot located in the town of Zapadnaya Dvina, 250 kilometers (about 160 miles) from the regional center Tver, engulfing 11 storage tanks with gasoline and fuel oil.
"The fire was completely extinguished at about 1.25 p.m. Moscow time 10.25 a.m. GMT]," he said, adding that the blaze destroyed 50 metric tons of fuel oil and 70 metric tons of gasoline.
No fatalities or injuries have been reported, the spokesman said, adding that local residents in the radius of 500 meters from the oil storage have being evacuated from the area.
Eight firefighting units participated in the operation to contain the blaze, the source said.
"According to preliminary investigation, the fire could have been caused by fireworks that landed on the territory of the oil storage depot," a local administration official later said.