it could be either a bad fuel pressure regulator or possibly even a fuel pump going bad. look for any cracks on the vacuum hose going to the pressure regulator.
Check your fuel pump and belt tightness. A loose belt or a malfunctioning pump are common causes of this. Your belt tensioner could be a problem as well.
belt tension has nothing to do with fuel pressure, pull the vacuum line off the press. regulator on the fuel rail, if fuel coming out, bad regulator, must check for 12v at fuel pump anything less will cause low press. weak pump or clogged filter posted by Anonymous
The low fuel pressure issue could be caused by a number of issues. The fuel pump could be failing. The fuel filter could be clogged. There could be a blockage in the fuel tank or fuel lines or there could be issues or blockages in the carburetor if the low pressure is at that location.
You could have a problem with the fuel flow meaning the fuel filter could be partially clogged or there is an obstruction some where in the fuel line. If the fuel filter is replaced and the line is clear then there could be a problem with the fuel pump itself and it may need replacing.