Owing to the coexistence of gasoline, diesel, and hydrogen, a specific and thorough risk assessment approach must be promptly implemented for oil-hydrogen fueling stations. Consequently, this study makes innovations in considering the safety issues of the joint construction of gas station and hydrogen refueling station, and undertaking the modeling and analysis of fire and explosion incidents at oil-hydrogen fueling stations based on fault tree analysis. The findings reveal that the risk level for fire and explosion at oil-hydrogen fueling stations is categorized as grade III. In our fault tree analysis model, there are 3240 minimum cut sets and 194 minimum path sets. The probability of fire and explosion incidents occurring at oil-hydrogen fueling stations is calculated to be 0.000265. This indicates that while the possibility of such accidents is low, their potential severity is exceedingly high. Ultimately, it is recommended that the safety of oil-hydrogen fueling stations be enhanced through the reinforcement of emergency management, customer safety education, and electrostatic discharge devices.