I think that depends on whether or not you have the hole in the top of your tank for the valve that vents the gas fumes to a charcoal canister.
My 78's tank does not have it nor does it have a charcoal canister or the hardline for one and so the only paths for the gas are out the sending unit or out the fuel filler.
My gas cap is vented due to this and I'm pretty sure it works correctly because when it's hot outside and the pressure in the tank changes due to the ambient temp, I can smell gas fumes by the filler door.
I know some guys on the 73-79 fte forum have had issues with their vented caps not venting properly or not soon enough for their liking (lower pressure level), so they've drilled very very small holes in their cap to allow it to vent freely. I don't know if I'd do that, but it's something I've come across while reading the forums.
Otherwise, if your tank has that valve on the top of it and it has a hardline and charcoal canister, it could be that the system is not functioning properly. The valve could be bad, something could be wrong with the canister, or maybe it's not hooked up to the carb right to draw in the vapors from the canister. 🤷‍♂️