Check Engine Light

Was out of town with the 2004 Dodge Stratus 6 cylinder and the check engine light came on.
Stopped at a local mechanic and he checked it out with his computer. He
turned the light out and said it was the O2 Sensor. He couldn't change it but said it would be ok to drive it home and have a local mechnic look at it.
I drove it home 120 miles and the light stayed out.
Could his computer have had a false reading or could the O2 sensor have started working once again?
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Could have been, may have been a glitch. Or possibly the 02 sensor getting ready to go out all together.
Glenn Beasley Chrysler Tech
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Is it true that if the O2 sensor goes out the only consequences is the motor will burn lean and poor gas mileage?
I don't want to get stalled.
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Depending on what the fault code is.
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