I don't have a simple answer. The pump itself is most likely but the older these vehicles get, the more that it could be the other parts. I'd hook up a meter to try to see if I could get an AC frequency on the pump power rail to figure out if it has the right RPM. If it does not, then the pump is "probably" the primary problem, unless the sock or filter is clogged. I'm not even sure I could get a reading that would tell me if the RPM is good, but that's something free to try.
If the pump does have the right RPM, then I'd want the pressure regulator replaced which looks like it's part of the sending assembly. It could instead be that your pressure regulator is fine, pump too, but it's the hose on it that split. If you're really aiming for cheapest repair possible then you might want to take it apart first to see if you observe that. If the regulator has cracked apart and leaks, you might see that instead. It's near 22 years old, the whole thing is due for replacement.
The thing is I wouldn't want to choose. I would not get a cheap sending unit assembly with a cheap pump in it, unless you just need to get it running to sell it soon, as the pump may have a short lifespan. I'd get the Delphi HP10135 sending unit w/pump, or if you are forced to spend less, then get a quality pump so at least that should last a while, but then you may find you need a new sending assembly anyway (which are also sold separately), and to take the tank down again to do that.
So, if I only had ~$75 and had to get it from Rock Auto, I'd get a Denso pump w/strainer or strainer separately, then hate myself for not getting the sending unit if it turns out that the pressure regulator was the problem, but Rock Auto has their pumps priced about where I see their quality, that the Bosch is the best then Denso, then Delphi, and I wouldn't buy any of them below that, especially not in the economy section. Remember to get a strainer sock if it doesn't come with one.
Keep in mind that eventually the fuel gauge sensor on the sending unit may fail too.
Having written that much, I'd also look elsewhere besides RA. That Delphi is cheaper on Amazon at $138 plus free shipping:
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You can probably get a Bosch pump on ebay for around $70 with the hose. That might be the best non-Rock Auto alternative for the pump alone, alone meaning with strainer and hose but not sending assembly.. Here's one for $56, but considering the seller I've no idea if that's a good or old stock source:
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