Hard to say what might be going on.
Since you have a manual, start by going thru standard tune up procedures if it has not been done in a while. A set of points may be burned up or badly pitted or may have lots its gap.
As for the gas, hard to say, that usually only happens if there is too much fuel by quite a lot or there is pressure blowing the fuel back out. Maybe check your valve lash and see if those are correct.
If you check the valves, increase the gap on intake and exhaust by .01. This allows for heat expansion and while the engine may be slightly noisier, there is less wear.
The ride IS the adventure. The destination is just to get gas!