smallblock project with my dad

3rd gear it started to nose over like shut key off. I could let off gas. Then nail again. Would accel for split second then do again. Lost in 2nd round. I believe it seems to be running out of fuel. Did good first 2 time trials. And did this first and second round. I'm thinkin fuel pump may be going? Have set at 7 psi. Noticed other day it was at 5.5 lbs running. And I never lowered it. So raised it back to 7. Other day.