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The oil pressure sender unit is located on the oil filter housing.These do tend to leak at times. The warning light for this switch is a red oil can and a buzzer. Replace the switch. If warning light still comes on, have the oil pressure checked. The oil level sender warning light is an orange oil can with oil level under it. This sender is fitted on the bottom of the oil sump and can leak past the seal. If warning light comes on, check oil level. If ok, check for damage to wiring under vehicle. Senders do some times become faulty.
The oil sending unit has gone bad and needs to be replaced. The sensor is under the exhaust manifold and above the oil filter on the V6. Replace the oil pressure sending unit, once they fail they may start to leak oil soon. Good luck and keep me posted.
per the Haynes manual for the 95-05 Dodge Stratus on the 2.0L & 2.4L DOHC 4 cyl engines, the oil pressure sending unit is located at the left end of the rear side of the block. On 2.4L SOHC 4 cyl engines, the sending unit is located at the left end of the rear side of the block. On 2.5L & 3.0L V6 engines, the sending unit is located on the oil filter housing, on the front side of the block. On 2.7L V6 engines, the sending unit is located at the left end of the rear side of the block. To access it, remove the heat shield.
now unless there is a very loud knocking of the motor which would mean that the engine's top end was not getting any oil I would say that your oil guage is sprung and needs replacing. a high pressure rating would indicate a restriction in the oil flow pasdt the sending unit or a plugged oil filter. if the filter were plugged you would know it because your enging would run tight in no time at all. replace the guage itself... please rate this........thanks