1988 302/5.0l showing low oil with 7 quarts in it?
 

I have a 1988 Ford E-150 van with 302/5.0L V8, just recently changed my oil a month ago. I added 5 quarts of 10w-40 Pennzoil and a quart of Lucas. The dipstick showed like 2 quarts low, a quart under the "ADD 1 quart" line on the dipstick. The oil pressure gauge was reading 1/3rd and I drained only like 4.5 quarts out of it so I figured it was fine. Recently when I've been running it it's been right at the bottom line of "NORMAL" for the gauge, so I added another quart but it didn't seem to make a difference for the gauge. I really don't think it's burning that much oil at all, I haven't even driven it that much. No leaks to speak of. I heard overfilling it would be pretty bad for it. Should I actually add another quart or two? Could the dipstick be wrong? I haven't gotten a check engine or anything and it's been running good so I assume if it gets really bad that will come on. Any advice is appreciated.

I have a 1987 E-250 with a 302 in it. It usually takes around 7 quarts, maybe 7 1/2 quarts ... not sure exactly ... when I change it and filter. That puts it at the top of the hash marks on the dipstick (full).
My oil pressure gauge stays at the same mark even if it's a quart low by the dipstick reading.. I have never run it low enough for it to drop. Maybe you have a different type gauge.
That thing of mine runs like a champ, passes the smog test with flying colors but sucks up gas to the tune of 8 MPG around town and not much more on the freeway. How is your gas mileage ?

Since posting this, I've changed the oil a couple of times and for some odd reason, after that it has been reading right in the middle. I literally just drained the oil and put the same amount back in, definitely not more. When it was reading low I had like 1.5+ quarts of Lucas, probably too much in there so I think that may have been what made it read low. I put like 0.5 quarts of it since then and it still runs good. Good gas mileage too.

It sounds like all is working out for you ... great !
What kind of mileage are you getting ?

I would be interested in that too. My 94 with a 302 gets about 18 on the highway.
The 85 that I had with a 302 got about 12.