The puertorican slang as used in the song by Daddy Yankee has always meant that you like to "cruise
" or go out on the streets in a car, or other motorized vehicle.
In my experience, it was never used to represent semen/sperm/ejaculation.
Slang example - "A ella le gusta la gasolina"
Direct translation - "She likes fuel"
Actual interpretation - "She likes to roll
/cruise" or "hit