Its a thermal relief valve and I just replaced mine yesterday. They shouldn't leak at all unless the pump over heats. I would just replace it. Just unscrew it and screw a new one on. Don't forget the teflon tape. Mine cost $19.95 but I bought it locally which always costs more.
Thats why you run a hose off your unloader back to the tank, this way fresh water is always running thru your pump.
Doing this will save your pumps life...
I already have that and I only run out of the tank, never from the tap. And there was still half a tank of water left so the pressure into the pump should have been good. I just cleaned the inlet screen yesterday.
See the pics.