Last week, Google applied a $100 price cut on both the 8GB and 16GB versions of the Nexus 4. The speculation is that Google wanted to clear them out, and it looks like they succeeded, at least for the 8GB version.
You will no longer find it in the U.S. Play Store, and The Verge is reporting that it won’t be restocked. You can still buy the 16GB version for the sale price of $249, but we have no idea how long that will last.
Update: the 8GB version is still available in the UK
source: The Verge