Abstract: An improved cap and spout assembly for a can adapted to contain a liquid, such as gasoline. The assembly includes the cap having internal threads to be threaded on an upstanding flange bordering an opening in the can, and the cap includes an outer transverse surface having a central opening. A spout is removably attachable to the cap and the inner end of the spout is provided with a flange to engage the inner face of the transverse surface of the cap. In the retail market place, the spout is inverted for storage and extends inwardly of the can. A flexible strap is integrally molded with the cap and in inserted through an opening on the can and engaged with a locking mechanism on the cap to prevent removal and theft of the cap and spout from the can. At the time of use, the spout is reversed in position so that it extends outwardly from the cap and the outer end of the spout defines an outlet which is enclosed by a removable cover.