With that mileage, the timing belt should have been replaced already. If it was not, chances are the timing belt has stretched causing late valve timing or the timing belt has skipped a tooth or two. Verify correct cam timing using a vacuum gauge. The vacuum should be between 17-21 in.Hg. preferably around 21 in.Hg at idle speed.
There is a possibility that the exhaust is partially restricted. The exhaust back pressure should not exceed 1psig measured at the oxygen sensor mounting.





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