So here’s my question. Can I keep driving it on the gas motor or will it leave me stranded at so point very soon?
No, you can’t keep driving a Gen 1 Volt on the gas motor when the battery has serious issues.
Your 2012 Volt is powered by a battery (not normally described as a plural, "batteries"). When the usable portion of the battery is depleted (65% of the battery’s full capacity), the car runs on generator output. If a power request can’t be met by generator output (e.g., flooring the accelerator to pass someone while traveling at high speed), power is "borrowed" from what is remaining in the battery, and then replaced when demand lessens. IOW, a properly functioning battery is required for the propulsion system to work.
If some of the cells in the battery have developed problems significant enough to cause the battery to malfunction, you can’t just "unplug" the electric motor from the malfunctioning battery and expect it to run on generator output alone... among other issues, you would lose the regenerative braking system if there’s no battery available to be recharged by the regen...
Sounds like your dealer is not familiar with a Gen 1 Volt. You write, "They say it’s most likely the batteries and they are at 8 percent life left. I don’t exactly know what that means." Neither do I. The Volt doesn’t run on "batteries" (plural). It has a large main battery (some call it the "traction battery" as distinct from the 12-volt battery in the hatch area) in the floor of the car beneath the seats (Wikipedia describes the 2011 battery pack as consisting of "288 individual cells arranged into nine modules"). A 2012 Volt whose main battery had degraded 92% from 16 kWh to 1.2 kWh full rated capacity wouldn’t be able to power the car at all. The battery warranty suggests the battery is expected to lose no more than 30% of full capacity over the 8 year warranty, and that level of degradation tends to produce PPR errors when the engine is used. Were you experiencing any? Can you still drive it with the engine running? If you switch to Mountain Mode, will it recharge the battery to the ~4 bar level, and then run on battery power if you turn the car off and back on again?
Do you know if the cell balancing program has been performed on your 2012 Volt (GM program #N172130462)? It is possible your battery is having some serious issues at the battery cell level that prevent it from operating properly. Such issues might require replacing the battery.