Abstract: A fuel regulator for two-cycle and/or four-cycle internal combustion engines, particularly those found in model airplanes, comprises a microprocessor, a thermocouple exhaust gas temperature sensor, and a fuel regulating valve installed in a low-pressure fuel delivery system between the fuel tank and the carburetor. During operation, the microprocessor continually receives signals from the exhaust gas temperature sensor. These signals are compared with stored temperature ranges to determine the optimum fuel mixture for the current engine operating conditions. If the current engine operating conditions require a variation in the fuel mixture setting, the microprocessor adjusts the degree of opening of the in-line fuel regulating value, and accordingly regulates the flow of fuel into the carburetor.