Sure sounds like it. Did you change filters recently? I've heard of the frame mounted unit giving troubles not seating properly. Some guys said you'd never notice it unless you had a fuel pressure gauge though. I'd pop that off, make sure the filter is properly seated, and put some oil on the rubber o-ring to make it go on easier and try reseating it. Couldn't hurt.
Stupid question but have to ask... you do have fuel in the tank right?