oil in my 88 mazda smells like gas?

You need to get your vehicle to a repair shop as soon as possible. You probably have a bad head gasket that is letting gas leak into your engine lubrication system. That dilutes your engine oil and could result in damage to your engine and ruin your bearings. If the dilution is severe your engine could lock up and if it is beyond repair, It might require replacing your engine. Do not delay getting this repaired!!!
 
test it. drain the oil and take a spoon full off the top. be very careful, but put a match to the oil and see if it lights up. the oil will not burn, so if it lights on fire you have gas leaking into your oil.

it is definitely not the fuel pump. Gas is coming from the carb and not burning making it's way down through the cylinder into the oil pan

check for maybe a dead cylinder
 
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