318 Retards Under Load?

If it all started after getting the gas I would think water too, it sure sounds like it from your description. Pull your fuel line off the carb (with the engine cold) and unhook your coil wire from the coil so the engine won't fire and carefully try and pump a little gas into a glass jar and let it sit. If there is water it will settle to the bottom and the gas will set on top, easily visible.


Or you can try siphoning some out of the tank, whichever you feel more comfortable with.

***Be careful doing this as sparks and gas don't mix well in unintended circumstances.***