I'm assuming that you have the pull up lever on the spigot? If so, you
need a new one. When you pull it up you're basically closing off the
spigot completely. A bad one won't close it off thus it leaks.
If you don't have the pull up lever on the spigot, it gets more
difficult. If you have the 3 handle type, take a look at this pdf
exploded parts diagram for a Central.
With the same problem as you, I found the Celcon washer (#11) was crushed
from over tightening.
Its prob. a rubber O ring that's worn out due to the high level of
mercury, DDT and Fluoride dumped by large coroporations that find it
easier to sell the public on the benefits of ingesting the by product
of aluminum production than paying to have it disposed.
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