The vent pipe only goes to the top of the tank to bleed of any trapped air due to the shape of the tank or the inclination on the car. When the fuel filler cap is screwed back into position it pushes the little vent lever and opens the vent so any pressure can equalise hence allowing any fuel in the filler pipe to drop down into the tank.
I think the original design concept of the little lever was to stop people getting soaked in diesel incase the pump didn't click off quick enough, I am sure most people have experienced this at some time or another with other cars.
I think the original design concept of the little lever was to stop people getting soaked in diesel incase the pump didn't click off quick enough, I am sure most people have experienced this at some time or another with other cars.