Constant Voltage Regulator (CVR).
The 'old skool' fuel measuring system was a battery-meter-sensor-ground.
The sensor was a low value variable resistor, whose wiper moved when the fuel level moved.
It was obvious from the start that unless the 'battery' was a constant 12 volts, that the meter reading varied NOT only on fuel level but also actual 'battery' voltage. Battery voltage could be anywhere from 9 to 14 volts depending on conditions, so the meter reads wrong.
CVR in the early days were simple electromechanical devices, giving a slow speed average of about 10 volts. In the 70s, solid state devices gave 100x better response.
Without seeing the schematic of the unit, I don't know how the fuel gauge works, though I suspect a series of micro reed switches in the 'tube' the float encircles.