If I remember correctly, that's for the hose than goes back to the mechanical fuel pump. It's the "dump" hose in case of a diaphram leak in the pump. If you have an electric fuel pump, it's not needed and would be capped. Hy
I believe it goes here and is part of the vent. There is a short elbow hose that goes on it. Look for the blue circle.
If it is capped off and you already have the fuel pump sight hose hooked up then that port is not needed.Leave it capped.