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Every ford that I've owned has had trouble with the gas tank gauge,my front tank is bothering on my 97 250hd once it gets to half a tank it starts to jump all over the place,as it gets even lower it goes from empty to beyond full. This just started a week ago any help would be greatly appreciated I generally put up with it but hate to.The truck only has 48,000 on it so I plan on keeping it for a while.
Do you run that front tank empty alot before switching over to the rear tank to maximize mileage? If so, moisture is getting to your sensor in your tank more and more and over time rusts in place or corrodes to the point of inaccuracy. Your tank sensor may be replaced.
I know there was an issue with early 90's trucks, where the fuel sloshing makes the gauge fluctuate. This sounds like the most likely cause. Do a search on "anti-slosh module", that should turn up something.
I had a similar problem but let it go till the pump went bad. The pump and sending unit are all in one. Might want to go ahead and change it before you end up being thankful for the downhill coast.