it sounds like you have a TECUMSEH 6.0HP with bad governor surge.. am i correct ?
If you do here is an easy fix
Remove the engine and place it in the garbage <--(just my opinion)
I am going to assume its a TECUMSEH because this is a common issue with them......
And i hate them more than the smell of burnt hair
This fix here can be applied to most upright engines with similar mechanics
If the governor surges up and down, then the problem may be a plugged carburetor, a plugged idle circuit or a worn linkage.
If you check these components and see that they work properly, then the set of the governor may be too sensitive.
This means that it reacts too quickly and overcompensates for the speed.
Move the spring to a hole in the governor arm that is farther from the shaft to decrease sensitivity.
Check the linkage and spring of the governor to ensure that they operate freely and are not stretched or damaged.
Check that all free play is removed from between the carburetor and spindle of the governor's static adjustment. You can check this when you move the air throttle to full open from idle to see how the governor shaft moves.
If the governor shaft moves clockwise, then loosen the clamp screw and turn the shaft clockwise. Replace the clamp screw and check the engine to ensure that the air throttle moves freely from idle to full open.
let us know if that helps if not we can move to the other probable causes and eliminate them one by one till it's better