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What would the problem be with your 94 ford probe you get a fuel cutout light and then battery gauge goes down like it is draining shoots up to high side settles back normal?

Here are a few possibilities:

- Alternator: The alternator is responsible for charging the battery and supplying electrical power to the vehicle's systems. If the alternator is faulty or not functioning properly, it can cause the battery to drain and the fuel cutout light to come on.

- Voltage regulator: The voltage regulator controls the amount of voltage that is supplied to the electrical system. If the voltage regulator is faulty, it can cause the battery to overcharge or undercharge, which can lead to the fuel cutout light coming on.

- Battery: If the battery is old or damaged, it may not be able to hold a charge properly. This can cause the battery gauge to fluctuate and the fuel cutout light to come on.

- Wiring: Faulty wiring can also cause the fuel cutout light to come on and the battery gauge to fluctuate. This can be due to loose connections, damaged wires, or corrosion.