yea, if the fuel cap is lose it can go on. i know beamers used to do that a lot, so you'd have to tighten it and then wait a while cause it would take the car a while to "reset" and for the light to turn off.
there's really no way to tell over the phone if the car really is safe to drive. there's just so many reasons that the light can go on..it could be the fuel cap, or just a fuse/electrical malfunction that's turning the light on, or the car really shouldn't be driven.
usually if the light is blinking or red (depends on the car..everyone is different) then it might be more serious..even then, who's to say there wasn't some short and the light is just coming on and means nothing?
best bet: if it seems to be driving ok and the owner's manual doesn't say to pull over and get the car towed then you should be ok. just use your head..don't drive long distances and get to the dealer as soon as you can
make sure you're roadside is up to date too!! you never know! and towing is expensive!