This is not something you can adjust, it is computer controlled. An air–fuel ratio meter monitors the air–fuel ratio of the engine. It reads the voltage output of the oxygen sensor, sometimes also called lambda sensor and is adjusted several time a second.
An air–fuel mixture leaner than the stoichiometric ratio of 14.7:1 will result in near optimum fuel mileage, costing less per mile traveled and producing the least amount of CO2 emissions. However, from the factory, cars are designed to operate at the stoichiometric ratio, to maximize the efficiency and life of the catalytic converter. While it may be possible to run smoothly at mixtures leaner than the stoichiometric ratio, manufacturers must focus on emissions and especially catalytic converter life which must now be 100,000 miles due to U.S. EPA regulations
Lean mixtures improve the fuel economy but also cause sharp rises in the amount of nitrogen oxides (NOX). If the mixture becomes too lean, the engine may fail to ignite, causing misfire and a large increase in unburned hydrocarbon (HC) emissions. Lean mixtures burn hotter and may cause rough idle, hard starting and stalling, and can even damage the catalytic converter, or burn valves in the engine. The risk of spark knock/engine knocking (detonation) is also increased when the engine is under load.
Mixtures that are richer than stoichiometric also allow for greater peak engine power due to the cooling effect of the evaporating fuel. This increases the intake oxygen density, allowing for more fuel to be combusted and more power developed.
Cold engines also typically require more fuel and a richer mixture when first started because fuel does not vaporize as well when cold and therefore requires more fuel to properly "saturate" the air. Rich mixtures also burn slower and decrease the risk of spark knock/engine knocking (detonation) when the engine is under load.
The engine control unit (ECU) tends to maintain a stoichiometric balance, wherein the air–fuel mixture is approximately 14.7 times the mass of air to fuel for gasoline. This ratio maintains a "neutral" engine performance (lower fuel consumption yet decent engine power and minimal pollution). Of course, this produces the excess carbon you see on the exhaust tips.