It can, yes. But at 130k miles there's no inspection that would be due on the CEL (You were right, Check Engine Light). I forget this living in Hawaii (we don't have this service there >.<) but since you're in the real US you should be able to take it to a checkers or autozone and get the CEL read for free. Call around to find a parts store close to you that will do that, and have him get it read.
At 130k I'd think it might be a little more serious of a problem if it hasn't been regularly taken care of. It shouldn't be a checkup at that mileage; however it could be something as simple as a misfire due to a poorly gapped spark plug, or on the other hand, it could be a nasty surprised like an unfelt slipping tranny or running rich/lean...
No way to know without getting it read. I personally wouldn't go near a vehicle with the CEL on without knowing what error codes it's spitting out.