I had an '83 K-20 w/ a "rebuilt" 400 in it, Long story short, the Ex had it while I was out of state and she told me the oil pressure gauge quit working.
I got home the following weekend, checked the dipstick, and there was oil on it, so I changed the gauge.
Still no reading.
Thinking the oil pump went bad, I got under the truck to drain the oil, and there wasn't a drop in the thing, except what was on the stick I guess.
I was using 20w-50 in it cause the oil pressure was really low w/ 10w-40 and I guess it was just clingy enough to stick to the stick and it actually probably saved me some real work rebuilding the engine.
I put oil in it and it was as good as ever.
If you have oil in your truck, I think the sender is behind your dizzy, if it's electrical. If it's mechanical, it's still behind the dizzy.