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The problem is likely the ignition control module and or the distributor pick up coil. I don't have any exact info on replacing these parts because we don't have this make of vehicle in the US market anymore, when we did we only had the gas 405 and 505..
If the truck is in good condition overall (only you can answer this) then yes it is worth it, but don't overhaul your engine buy one that has been factory reconditioned, don't get it from cheapest price sources, look around for the best quality rebuilds.
Ok,you could have a bad fuel cap or o-ring on the cap. could be you just didn't quite get the cap on good enough the last time you got gas so in turn the light comes on. unfortunately these things are so sensitive that the light doesn't go out even though you have tried taking it off and putting it back on. My advise is, check out your local auto parts stores. such as Autozone, or Advance. Most auto parts stores anymore will hook up a small scanner to your car and can tell you what the problem may be. not as good as a dealers repair shop could tell you,but should be able to let you know if it is nothing serious or could be. if it is something serious then you would of course have to see mechanical help. and if its nothing serious, like the only thing showing up is gas cap not on good,they can clear out the code and your light will go off and your good to go.if it turns out that's all it was and the code is cleared, and it keeps coming on, you could have a more serious problem and should have a qualified mechanic check it out. if you don't have an Autozone or Advance near you, just check your local auto parts stores and see if they offer the service of checking your vehicle when lights like this come on. and it should be a FREE service. Autozone and Advance is and most should be. i know this is long, but i hope it helps.
Most major auto part chain stores have a loaner code scanner (they require you to leave your ID while you use the tool in their parking lot). There is a connector under the dash near on the drivers side that accepts the reader....check the codes and Google them for repair info or post them back here.
The power light, seperate from the check engine light, is usually a transmission code. Have the vehicle scanned with a code reader so you can isolate the issue.
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