I had the same things happening awhile back. Gauge was doing funky things........it would read REAL high then VERY low at odd times. The gauge will fluctuate according to your engines rpms, but extreme changes low/high are not right. If you try the sender route (and I would) make sure the parts store gives you the right part. I have heard there is some confusion within the part numbers on thier computers. It is a one wire/two thing I think. I would try it first, as it's cheap and won't hurt to replace it anyway. If you find that wasn't the problem, throw the old one in the toolbox as a back-up. Be carefull when wrenching the new one on, as the fitting it goes into is soft brass, and can crack easily. The next problem might be a bad ground in the dash, but if all the other gauges work fine, this is not likely. Later