Whenever the Check Engine Light is on there's a possibility the engine is emitting excessive emissions out the tailpipe. In extreme cases other parts in the system can be damaged, like the Catalytic Converter or Oxygen Sensor. Whether you experience performance problems or not, a flashing CEL indicates that an engine misfire has occurred. When this happens you should pull off the road and not drive the vehicle as this will damage the Catalytic Converter, which can cost over $1000 to replace.
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