No. A regulator controls the flow of gas. In effect, it restricts flow in order to maintain equal pressure as the tank empties (though in practice, pressure does usually drop a little as the tank drains). A gas tank gauge monitors pressure, so as it starts to drop, the indicator moves into the “Low gas” or “Refill” areas.Many appliances, like barbecues, need a constant pressure supply. Therefore, you may need a regulator and gas gauge in tandem. Grills and barbecues are often supplied with a regulator, so you may have one of those already.