it sure can. so could a bad ground on each sending unit or corrosion on the bul;khead terminals. the gauges ground through the sending units. Check for a good ground between the body of the sending unit (where it screws into the intake or the plate of the sending unit) to battery ground. if you have more than a few ohns (like more than 10 ohms) thats a problem

You really should swap out the voltage limiter with a solid state one. they are more accurate and reliable