The oil pressure gauge in my 94 5.0 wanders. Sometimes it will be in the middle of the gauge and other times it is about the "N" in normal on the gauge. Is there anything I should check? The car doesnt seem to run any different or sound any different when its reading lower.

 

It sounds like the oil pressure switch might be taking a s**T. I would get a new one and at that i would install a mechanical oil pressure gauge.

 

If it looses pressure when its warm at idle its probably time for a rebuild. That would be bearing clearance issues.

 

It does it randomly at either hot or cold temps