CEL and TRAC OFF Flashing on 2004 IS300 - help!

I have a 2004 IS 300 that I purchased certified pre-owned from a Lexus dealer (so it still has about a year and half left of warranty). I noticed that after I pumped gas recently, the check engine light came on and my TRAC OFF is flashing on my dash. I took it to AutoZone and had it scanned and they let me know that there is a problem with the "oxygen sensor heater control circuit" - the guy said it's probably a failed oxygen sensor and that part alone is normally around $200.

Does that sound right? And, is this something that should be covered under my warranty? I haven't taken it to the dealer yet but would like to know before I do in case they try to tell me it's not.

Thank you!

Yep, covered under warranty. As far as the code and the stated problem, not necessarily true as to why the TRAC OFF is flashing. Take it to the dealer for a true diagnosis. One other thing to check is your gas cap and make sure it clicks closed. A open or faulty gas cap can cause check engine light issues.

Your O2 senser is bad in your Y-pipe. Just replace it and you will be good.....When the traction buttom flashes that what it means.

I put im a meagan racing y-pipe and it elimanated one of the cats and mine did the same thing. I bought a sim for the computer and it fixed it. It only cost $40's

Go with the sim. I pull the Megan y pipe on and my cell light came on with the traction control light flashing. I put the sim on and now its perfect. Only 40 buck and never have to mess with it again.....