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I have a 1997 F150 XLT with 138K miles. It has a 4.2L six cylinder engine with auto transmission. It is a 4X2. It was running rough so I had a friend do a scan test and he determined that it was mis firing on the #4 cylinder. He did a complete tune up on it. Plugs, Wires, Air Cleaner, Fuel Filter etc. The mis fire is gone and it is running very well now. However, the oil pressure problem is still with me. For about the last 2 years when I'm towing, after the engine gets to operating temperture, when I stop at a red light the oil pressure starts to fall. The gauge strats jumping and the light will come on. If I shift to nuterel the pressure will come right back up. When the red light turns green I just shift back into drive and start going and everything is fine. Over the last few months I noticed that it does it as soon as it warms up and I stop at a light. This is without the trailer. The trailer that I tow in the summer is a small landscaping trailer and I know I don't exceed the 5600lb towing capacity. The truck has the towing package. I also replaced the sending unit for the oil pressure about 2 years ago when the problem first started so I don't think thats the problem unless I got really unlucky and got a bad replacement unit.
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