The fuel pressure regulator is a likely suspect. When they fail, it usually causes the engine to run so rich it drowns the plugs and stalls out. It is unusual to have it drip gas on the ground though. Perhaps if there was also a bad vacuum hose or something, though the regulator is on the other side of the engine from the exhaust.

To check the regulator, find it (a small round metal capsule at the front of the fuel rail) and pull the rubber vacuum hose off (start the engine, run it for a little while, then turn it OFF to do the test) The hose should be clean and dry inside. If there is any evidence of gas in it, (visible liquid, or even a smell) the regulator is bad and must be replaced.