Got this from another site, but it is good info!
Do you have underdrive pullies? Sometimes UD pulleys will cause an unstable CKP signal.
Other possible causes are fuel injector related.
Could also try swapping the COP with another cylinder and see if the problem follows the COP.
Yet another option is to get a full set of COP replacement insulator boots. Autozone (Duralast) makes a full set of 8 that costs less than a single whole new COP.
When was the last time you replaced the fuel filter?
The full list for P0316 is:
- Damaged CKP sensor
- Ignition system
- Fuel Injectors
- Running out of fuel
- Fuel Quality
- Base Engine
- Damaged PCM