Sounds like fuel to me s well. If the carb has an inlet fuel filter I'd toss it and put an inline one between the pump and the carb.
It may be the fuel pump as well. Mine was quitting a couple of years ago and someone from this site suggested I put a gauge on and try. I taped a gauge to the windshield wiper and yes the pressure dropped just as the engine quit. I put on a new pump and that solved the problem.
If there are some rubber hoses connecting the steel fuel lines between the tank and the pump getting soft they could be collapsing and stopping flow.
The screen over the pick-up in the tank may be clogged as well.