In a medium frying pan over medium heat, warm oil. Add flour and stir to form a paste. Let paste cook until it is a deep golden brown, about 2 minutes.
Whisk in broth, tomato sauce, and gravy mix. Simmer until sauce thickens slightly, about 5 minutes.
Season to taste with salt and pepper.
Serve over meatloaf, meatballs, beef, veal, potatoes, or rice.