1998 Chevy S-10 Oil pressure

It depends on the rpm.
If you do doubt the one on the dash,
oil pressure can be checked by attaching a pressure gauge to the engine where the oil pressure sending unit is attached. If oil pressure is within specifications (typically 10 psi for every 1000 rpm) the oil pump is okay. If pressure is less than specifications, the oil pump may be worn, or the engine bearings may be worn.