In a medium sized skillet over medium heat, whisk the vegetable oil, flour and chili powder for about a minute.
Whisk in the remaining ingredients until it is well combined without lumps. Turn heat to low and allow to simmer until it begins to thicken, about 5 to 10 minutes.
Allow to cool before storing.
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Notes
Calories are automatically generated. For best results calculate based on your exact ingredients.Makes about 2 cups / 16 ounces.