!50 HP Ocean Runner fuel pump

[bassarama]

Hello fellow fishers.

I've been having fuel problems running out of power while underway, I would pump the priming bulb and the motor would run fine again for another couple of minutes, then the same problem came back, on and on...

By the end of last year's season It got to the point that I could not idle without primming the bulb.
Unfortunately, for health reasons I was unnable to work on the boat yearly this Spring. Today I opened her up and checked everything related to fuel, the last check was the fuel pump.

Some of you have hinted me of a possible problematic fuel pump. I took it apart and inside the diaphram cup I found a broken O'ring as you can see.
Measuring the O'ring, I believe it fits and goes inside the center housing that accomodates the "shaft looking" part that is attached to the center of the diaphram which looks fine by the way. Is that "shaft lookin" thing suppose to be loose like this?

Now I asked you guys, is it possible that the broken O'ring is causing the fuel pump to get airbound causing fuel delivery problems ?

Thanks in advance guys!

Here's a pic: