Are the other dash meter spot on ?
If the fuel ain't spot on with a full tank, than the problem is the dash regulator.
If that's OK, replace the oilpressure sender first.
This can be tough if you have a Cleveland engine, where it's behind the intake manifold,
close to the firewall.
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Grtz. Ronald
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-1970 Mustang Mach1 'Twister Special'
-1979 Mustang Indianapolis Pace Car [under restoration]
-1979 Mustang Indianapolis Pace Car Go-Kart
