Usually not rings, so put that out of your mind. First question- is your petcock shutting off fuel flow? If not gas can leak past the needle over time even if it is working right. If it's not the petcock, pull the carbs off and check the float bowl. Are the needle and seat clean? Are they worn? Is the float full of gas? Is the float adjusted properly? With the carbs upside down and the tang of the float just touching the end of the needle, the measurement from the float bowl mating surface to the top of the float should be 26-27mm if you have round brass floats. If you have plastic floats, you need to use the clear hose method to set the level and I'll leave the instructions to someone else.