losing power

my 88 c/k1500 Gmc 1/2 ton pickup truck w. v8 5.0L is losing power, which all started after a really hard rain and I went driving through mud. so now I cant go higher than 55mph and I dont know whats wrong with it. Im thinking it something with my fuel line but im unsure, could the mud have clogged up something?? what do you think is wrong with it?

Start with the basic's;

Check the air filters for mud or debris you might have sucked in there.

When was the last time you changed the fuel filter?

How about plugs and wires, are they oem? Maybe they got soaked.

if I take off my fuel filter, will I leak gasoline?

You can replace it but you cannot run with out it if that is what you are asking. Its in the fuel line inside of drivers side frame rail, back of cab. CAUTION--Fuel under pressure, do not change in garage or when vehicle is hot, wear eye protection as fuel wll spray till pressure subsides, not much but can be dangerous if it hits hot exhaust or you get in the face/eyes etc, so be prepared.

Also, if it has not been changed in a long time it can be very hard to get it loose. May have to use penatrating oil on it for a few day but I have seen them rust so bad the fuel line had to cut and spliced. Not trying to scare you but be warned it can be a pita if you have never done this before.

Should be replaced approx., every 25,000 miles.

yeah its in the fuel line, what I meant in my last question is will it leak if I take it off the truck when the truck is stationary and not on?

Yes it will leak some till the pressure subsides. Remove the fuel cap so the fuel does not continue to siphon out.

what kind of muddin' did u do? one time i went EXTREME muddin' and dented in my trans pan and it messed up the valve body and it was like runnin on 4 cylinders. easy enough to check.

yeah it was rough mudding; mud flying, wheels spinning, jumps, bumps, and the donuts. how do I check the trans pan or the valve body?

Guy brought an older rear drive Buick into my friends shop once complaining the car lacked power. Put all new parts to even replace the converter and it still was a dog. It was at his shop for about a week and one day I stopped in and it was gone. He said he found mud caked on the front crankshaft pulley and when he cleaned that out the engine ran fine. Said the guy then told him he went on the ditch with the car some months back and it never ran good from then on.

It would appear the mud threw off the engine balance so bad that caused the problems. All the mud was caked on one side.

Check that out.