Yes you can configure the transfer function (PSI per VOLT) in the power logger configuration file.
If the transfer function is already correct, and the sensor and the mechanical gauge do not agree..... then you got a bit of a dilemma and you have to find out which one is right.
This is from my powerlogger config:
[CustomAnalog4]
CustomAnalog4Name=Fuel Pressure PSI
CustomAnalog4LongName=Fuel Pressure PSI
CustomAnalog4Tag=FPSI
CustomAnalog4GaugeMin=30
CustomAnalog4GaugeMax=90
CustomAnalog4GraphMin=30
CustomAnalog4GraphMax=90
CustomAnalog4MinValue=0
CustomAnalog4MaxValue=145
CustomAnalog4MinVolt=0.5
CustomAnalog4MaxVolt=4.5
The last four items are the transfer function for my particular pressure sensor (min value, max value, min volt, max volt)
Yours may be different, best to ask Caspers.