No it is not. It is at a fixed position, suspended by rods from the top. It is designed slightly above the bottom of the tank, because there are going to be slight height differences between every tank, and the fact that the tanks expand and contract. Some tanks, the pickup could be 1/2" off the bottom of the tank. Because of these parameters, it will vary how much is left in the tank. The gauge will read different depending on the grade of the road, whether the gas is at the side of the tank the unit is in, or pitched away.