Volvo Repair: 89 240 GL will not start, flash flash flash, example 121

Question
About a month ago, my "spare" car that ALWAYS runs when my NEW cars won't....began to skip very badly.  IF you depressed the accelerator, it would cut out VERY badly.  After letting up off the gas pedal, it would run smoothly again.  When I got my speed up to 45 or 50 MPH, it began to run smoothly. Note, before, it was almost as if I was turning the switch off and back on...when pressing the gas pedal down.  AFter 4 miles, when I reached my house, it was running very smoothly, a week later, I went to start it, and it just turns, and turns...never "hitting" as if it's going to start EXCEPT for the first 2 or 3 seconds, it seems as if it's going to start, and then just turns, and turns.  after a min or so, I can then smell gas, so I leave it, and try the next day.  The 240 has approx. 150,000 miles, has been serviced routinely, and never been a problem.  I did notice the engine lite did come on prior to the skipping.  Any suggestions?
Rick

Answer
I would check for diagnostic trouble codes.below is how to do so.


in the engine bay on the drivers side near the strut tower there is a small black box with a wire attached to it.place the wire in the terminal marked 2.turn ignition key on (not started)press the small button for 1 second and the code will be displayed as a series of flashes.a red led displays the codes.the code will be three digits.small pause in between flashes for a single number long pause between flashes for the next number.example 121 will be flash.....flash..flash.....flash.repeat three times or until first code repeats itself.to erase the code after all codes have been checked hold the button for a good 5 seconds then release the light should light steady,then press for another 5seconds.this will erase the codes.  email me the codes and i will tell you what they are..socket 2is the fuel system 6 is ignition.