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Tires do not have oxygen sensors. They can have pressure sensors. The lack of pressure sensors would have no affect on fuel economy.
the original rims for that vehicle have air pressure sensors built in them. if you replaced the rims, you would have to replace the sensors also. now, if you only replaced the tires, the sensors may have been damaged during installation.
I had a similar situation shortly after replacing all my tires and though the tires were brand new they did not replace the valve stems and they had slow leaks in two of the four tires, this may be your problem. The tire pressure sensors can be very sensitive.
If the light is flashing there is no resetting it. One or more of the pressure sensors has failed. Replace the faulty sensor, set the correct tire pressure on all 4 tires. Take it for a short drive and the light will reset itself. If the sensors are 4-5 years old the batteries are probably dead or going to die soon. Replace all the sensors and be done with it.
I would think you could call GM or get aftermarket tire pressure sensors that are either adjustable with the pressure range or just have a higher set pressure.
IF all tires are at the correct pressure and the light is still on, there is a failure in one of the sensors.
A tire store will replace any or all of the tires that you want. It depends on how many you want to purchase. They will not try to pressure you into anything you don't need.
It should not.
The tire pressure warning light should go out once all of the tires have the correct pressure. If it does not then one of the sensors in the wheel is probably bad.
This could suggest that a tire has ... low pressure! If all the tires have adequate pressure, some kind of problem with the sensors or wiring is probably to blame.
make sure u have proper tire pressure, if all tires are good, the batteries in the tire pressure sensors may have gone dead
good question. if your valvestems are aluminum, not rubber (they probably are) the pressure sensors are inside the tires and send a signal to a computer that reads the values of all the tires on the car (including the spare). if there is 1 or more tires with low pressure, the indicator light on the dash will come on to let you know there is a problem.