In a nutshell......... The 02 sensor tells the ECU whether the exhaust has too much unburnt fuel and oxygen in it or not , and the ECU adjusts the A/F ratio accordingly. If the sensor goes bad , more often than not the car will run too rich and gas mileage will suffer bigtime , although I have seen them fail on the lean side....
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1992 Yamaha FZR 1000. 145 Hp, all stock..