SL, Johnny pretty much covered it. He and I both have diesels. I have cut on gassers for years with no issues.
However, you can make a shield out of plywood, scrap sheetmetal, etc.. to block the sparks/arc between work area and tank/lines. When I have a gasser, I wrap the filler neck, gas cap and lines in wet towels/rags.. Vapor is the main issue with gasoline, not so much the liquid itself... Making sure there are no leaks (liquid/vapor) are the two big items to be cautious of.
Flammable and combustible liquids themselves do not burn. It is the mixture of their vapors and air that burns. Gasoline, with a flashpoint of -40°C (-40°F), is a flammable liquid. Even at temperatures as low as -40°C (-40°F), it gives off enough vapour to form a burnable mixture in air. Phenol is a combustible liquid. It has a flashpoint of 79°C (175°F), so it must be heated above that temperature before it can be ignited in air. A material's flammable or explosive limits also relate to its fire and explosion hazards. These limits give the range between the lowest and highest concentrations of vapour in air that will burn or explode.
The lower flammable limit or lower explosive limit (LFL or LEL) of gasoline is 1.4 percent; the upper flammable limit or upper explosive limit (UFL or UEL) is 7.6 percent. This means that gasoline can be ignited when it is in the air at levels between 1.4 and 7.6 percent. A concentration of gasoline vapour in air below 1.4 percent is too "lean" to burn. Gasoline vapour levels above 7.6 percent are too "rich" to burn. Flammable limits, like flashpoints however, are intended as guides not as fine lines between safe and unsafe.
Use caution and don't get "comfortable" and you'll be fine.
Hope this helps,
J