If there is no knocking or ticking when the light flickers, chances are the oil sending unit is bad. It isn't an expensive part, under 20 bucks. Replace that and see if it fixes the problem. If you DO hear a knocking or ticking from the engine, then you need to check pressure with a mechanical pump and maybe even replace the oil pump.
Wednesday, December 7th, 2011 AT 5:56 PM