A fuel system for fuel injectors of an internal combustion engine is provided with a hydromechanical timing valve having a valve body assembly with a barrel and plunger arrangement. The plunger is displaceable within the barrel under the counterbalancing forces of rail fuel pressure (load) and one or more timing valve springs. The relative position of the barrel and plunger determines the effective size of the port through which timing fluid can flow. In accordance a first embodiment, the plunger has a tapered head which covers and uncovers ports in the barrel to a greater or lesser extent, thereby creating a variable flow-through cross section. Alternatively, in accordance with other embodiments, the barrel has ports with slot-like orifices of progressively changing widths which coact with a metering groove on the spool to define a variable flow cross section through which the timing fluid must pass. Optionally, for highway motor vehicle applications, to increase fuel economy, a delayed timing advance feature can be incorporated into the timing valve. More specifically, by a controlled leakage effect, the valve plunger can be caused to shift in a direction causing timing to be advanced (timing fluid supply increased) only after a predetermined period of time has elapsed. This delayed timing advance can be produced, in accordance with the invention, via a second, internal plunger, or via a second, diaphragm-operated external plunger.