118PSI! Barf!
It's not smoking, so that is a good sign. Do a tune up and an oil change, then run seafoam through the intake via a vacuum hose. That will clean the carbon that has been piling on the valves and combustion chamber. This process will make a huge cloud of white smoke, so don't be alarmed. Then once you are done with that, go for a drive and run it hard enough but not abusive. After all that, put a can of seafoam, or stp, or BG fuel treatment in the gas tank and then fill up the tank with gas. Drive it 500-600 miles with the fuel treatment to give time to do its work.