One of the most common points of concern when dealing with power steering fluid leaks is the potential fire hazard. This has been noted before, whereby a specific fluid leakage in a car would drip onto hot components like the exhaust or engine. Then, promptly catching on fire and burned the entire car down with it. Thankfully, in this case, the power steering fluid isn't flammable. This is due to its high flash point. In other words, it won't ignite as easily as something like gasoline fuel. However, while power steering fluid isn't flammable, it's still combustible. Therefore, with constant exposure to fire, it'll catch on fire eventually, but not explosively.