Notice something weird with my 94 302 xlt today. Oil pressure (factory gauge)seems to function normally until it gets to normal operating temp, then drops to nothing with throttle applied. It will shoot right back up to normal as soon as I let go on the throttle. It does this with the slightest of throttle. Gauge reads normal when I'm idleing at stop lights. Read the searches and don't see anyone having this problem. Seems like I have the reverse of everyone elses problems regarding oil pressure.

 

is your coolant temp going up as the oil pressure drops and then comes back down as oil pressure is restored?

 

have you replaced your oil pressure sensor? you might want to try replacing that

 

Keep in mind that Ford factory 'oil pressure gauges' are nothing more than a dummy light with a needle. Ford long ago gave up installing accurate, working oil pressure gauges on their vehicles. It's either 'on' or 'off'. Since it is just an electric powered indicator, I would tend to agree with the earlier suggestion that it is likely your sending unit.

 

Coolant temp is normal. Everything is normal as far as I can tell.
Engine does sound a little crappy but it been crappy anyways.
I will check the sending unit and wiring this weekend. I won't drive it until I figure this out. Where about roughly is the sending unit?

 

its right up front, on the driver side, right bove the oil pan, right behind the timing cover. this is on my 351, i believe a 302 is the same but dont quote me. you could probably get it off with vise grips, but im sure auto-bone has a tool you can borrow for it, or maybe a regular socket will work, maybe a 15/16, or a 1" something like that