Ok to start off my car has been burning some oil my tips are nasty after 2 days of driving.. it has 122,000 on the clock

Tonight I was driving and the little Teapot looking light came on dim but it was on. When I slowed down and pulled into a gas station the presure gauge was more jerky then it used to be like i could see it chug as it lost presure..

I checked my oil and the level was fine.. But It smelled like gas pretty bad. And there was little bubbles in it..

Whats going on here? Im doing a rebuild as soon I can get a Winter car The engine is comming out...

How much longer does it sound like this engine going to last?

If it could be something minor I might hold off on the rebuild But wouldnt mind a fresh buget 355 I dont wanna spend more then 4000 to have my engine fresh and back into the car.

 

Maybe worn piston rings?

 

this morning the presure was High but it got below freezing..

It seemed like when I took off I could here a slite metel metel click like 2 seconds before I shifted like parts where not getting the oil. Once the car started to warm up it acted regular again.
I can hear something strange going around up front though

 

One of the causes of fuel getting into the lubrication system is worn piston rings. The fuel leaks past the rings durring the compression stage. If the rings are worn enough you might hear a metal on metal sound. I would run a compression test on your cylinders so you can figure out which one is giving you problems.

 

Also your oil pressure will be higher when the engine is cold as opposeds to when it's warmed up.

 

How much total for a better then stock rebuild.. everything accounted for how much is forged summit rebuild? help me here all and all the engine needs rebuilt

 

by the way my car is getting terrible gas mileage