Engine Performance problem
1991 Plymouth Colt 4 cyl Front Wheel Drive Manual 155000 miles

Hi, I have a lot of gas dripping outta my exhaust along with a steady stream of white smoke. It is no doubt gas coming out and the plug on #2 cylinder was caked up with white hard crust. Is this caused by a failed valve? The car runs fine, sat all winter, ran it tilll it was hot but no luck getting the gas to stop steadily dripping from my exhaust manifold and tailpipe. Help