Hi TVZ, on mine i left the fuel cap off, started it up with it on the ground and ran it till warm, then i looked in the fuel tank (at this point i thought it was a fuel problem and was thinking the fuel filter was getting stuck so some of it was out of the fuel) i pulled on the throttle and saw the petrol pipe collapse about half way down, as soon as it did i could no longer rev it up and it displayed the same problems as yours. I replaced the fuel line and it has been fine since. When i removed the faulty petrol line where it would collapse was soft and spongey unlike the rest of the fuel line.