Flickering oil light
This could be two unassociated problems; the flickering oil light can indicate that the pressure sensor for the idiot light is failing- this is not uncommon, the other can be a failed temperature sensor sensor on the main radiator.
The low oil pressure condition may also be indicative of a worn engine part or parts.
It would make sense to have the actual oil pressure checked in a shop to see if it is in the normal range which should lay between ~30 & 60 pounds depending on engine RPMs and engine temperature.
The idiot lights trigger at around 4-5 pounds and this is really pretty late for a warning; if the pressure is actually that low, not only lubrication is too little but the cooling effect of the circulating oil is inadequate.
If it was my car, I would replace both sensors before getting too worried.
The cost of these together (parts only) should be well under $50 US.
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