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At 300 degrees his oil would not really be oil anymore it would flow right out of the bearings and he would shortly lock up.
Not necessarily there have been cases and photo and video proof of the stem that goes up the oil filter being melted to bits and that happens around 350*F. Either way when you get the oil and the engine that hot yea your going to need parts.
What year? Apparently the early years won't necessarily throw codes for high eot. That's just what I read in a post about Ford updating the strategy for cooling hot engines a while ago. If your cooler was plugged, 300 degrees wouldn't be so hard to reach but the engine would probably be running pretty warm at that point too. And 300 degrees would be a stop driving the truck immediately type of temperature! So double check the codes and or try it on a friends truck.
Edit nevermind I guess I opened this thread a few hours ago so I didn't read the more recent replies.
10 degrees is normal around town with ac on. On a 50 degree or colder day, just normal driving, they should be within a few degrees of each other.
My truck year is a 2004 PSD.
I messed the codes up i mis placed a 9 and a 0, im usually within 5-15* of the two temps. usually from a stop at a stop light or getting on the freeway, the difference increases, but then takes a little but gets close in temp again.
Im guessing oil takes longer to cool than coolant.... my guess why it takes a min to drop down