Is this sealant approved for use with gasoline fitting applications?

It is specially designed for use in fittings handling gasoline and gasoline blends up to 85% ethanol. See technical specs here: https://www.fedprobrands.com/products/pipe-thread-sealants/gasoila-e-seal-thread-sealant.html

Is this appropriate for fittings on a dispensing pump for diesel fuel?

It’s about the best I’ve found for any diesel or gasoline engine application.

Will this work on gas tank drain plug that is leaking slightly??

Depends on why the plug is leaking. If the plug is threaded and the threads are damaged, probably not. If by "slightly" you mean weeping and if the threads are ok, then it may be sufficient. The reason that I used Gasoila E-seal was because of its resistance to degradation by Ethanol, especially in high percentage Ethanol/Gasoline blends. The product is a sealer, not a glue or filler.

Material	Polytetrafluoroethylene
Brand	GASOILA
Style	Compact
Item Weight	0.21 Kilograms
Item dimensions L x W x H	5.1 x 7.6 x 10.2 Centimeters
Compatible Material	Alloy Steel, Copper, Polyvinyl Chloride, Stainless Steel
Item Form	Paste
UPC	686081010918
Global Trade Identification Number	00686081010918
Manufacturer	Gasoila
Item model number	GE04
Product Dimensions	5.08 x 7.62 x 10.16 cm; 209 g
ASIN	B008HPVEP0

Gasoila E-Seal Pipe Thread Sealant with PTFE Paste

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