I have a 2006 5.7L w/ Hemi with 135000 miles. I am in Chicago with temps in the 10-20 degree range. Engine starts normally, then after 7-10 miles, the oil light begins to beep. I pulled over to check the oil level - it is in range. I drove another 10 miles. The engine intermittently went from quiet to a "clicking" sound then back to quiet. The oil was just changed with 5W20. The repair shop I brought it to initially said that it is the sensor. But, if it were a sensor, then why would it sound like it was starved of oil? Like I said, the "clicking" is not constant. Then the shop said that it could be the pump - which involves replacing the pan at $600. Then the shop said that if it were him, he would replace the engine because the bearings are probably shot. I would like to know if anyone else has experienced this type of problem and what you did to make it better.

 

In all likelihood, you have either a bad oil pressure sending unit or you actually have low oil pressure. I'd be inclined to temporarily install a mechanical gauge and see what the pressure really is.

If the oil pressure is really low enough to trigger the warning system, there may be engine damage. It's not possible to diagnose it without taking it in steps.