While I'm admittedly not an expert on your motor, I can relay my own experience: With my RX-7 my average highway mileage went from 23mpg to 19mpg with a bad O2 sensor. When it goes bad, my ECU goes into "limp" mode so the motor runs very rich. I don't know what a replacement one costs for your motor, but for me its a mere $25 so its well worth it. Food for thought.
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