Here’s another one of those common oil leak points on the BMW E46. Up there with the valve cover gasket as one of the most common sources of oil leaks on the E46, the oil filter housing gasket is yet another weak point. What’s crazy is that, the oil filter housing gasket itself costs less than $5, but the overall job usually costs much more due to the labor it takes to remove all of the other components needed to get to the gasket.