Why would a 1992 Honda Civic's engine oil smell like gas?

three possibilties exist. the engine is not burning all of the fuel it is getting 1 this could indicate a fuel system or 2 engine problem. is fuel mileage the same? if so 3 the oil may be extended beyond reasonable life. a good oil sample tested at a lab from a hot engine will tell a great deal.

Check the fuel pressure regulator as the diaphragm may be leaking fuel into the vacuum hose and thus running way too rich.