I'd guess it's a blown diaphram in the fuel pump. Replace the pump and change the oil.

Whatever you do, don't keep driving it as is.... not only do you stand a chance of rapidly accelerating engine wear from gasoline dilution in the oil, you also risk a sump explosion and fire.

Frank

'89 [color:"white"]G-Raider[color:"white"] [color:"black"]Supercharged 3.0L, MegaSquirt 2, lockup A/T, 2.5" exhaust, 172k, Cibie H4s/Oscar SCs, Hella Micro DE fogs, Cobra CB, Superwinch hubs, LSD rear/Aussie Locker front, Bilsteins, Lifeline AGM, Rust-Oleum