The degree of injuries and the identities of the boaters had yet to be released.
The fire started at about 3 p.m. Friday at a fueling station in Grand Lagoon near Treasure Island Marina. Three people were fueling the boat when it somehow caught fire, and a witness said the occupants quickly evacuated onto the dock. Out of fear the flames would spread to the fueling station, people nearby pushed the boat into the open water of the lagoon, U.S. Coast Guard officials reported.
All three made it to land safely, the Coast Guard reported, but at least two suffered burn injuries.
The Coast Guard, Florida Fish and Wildlife Conservation Commission and Panama City Fire Department responded to the scene. The State Fire Marshal's Office also is investigating the cause of the fire.