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i've noticed a lot of similar 300-6 set-ups get a wide range of fuel economy...it could be that the carb isn't tuned quite right, or is just plain wore out, it could be that some people have LFS (Lead Foot Syndrome), or it could have to do with climate...there are a number of factors that play into fuel economy...how good is the fuel? are you at a high or low altitude? are you using any fuel additives? how old is your motor? there are many different aspects to look at...
i get 8 - 12 in town and bout near 20 on the highway. i have a 85 300 and overdrive tranny with a 3.08 rear. i have been conciderin a gear swap.. maybe someday my 83 crown vic with a 302 and a AOD with a 3.08 rear gets about the same as my 300 if not worse.
The 300cid "Big Six" is a big engine with a larger displacement per cylinder than the 351 V8. Other factors to affect gas mileage would include gearing ratios and tire diameter. Also if you change your tire diameter without correcting your odometer your MPG calculations will be off. Properly tuned up and if I keep my foot from trying to drive the truck like a race car I get around 17 MPG.
88 FI 460, C6. 10.4-10.8mpg EVERY TIME 90% city, or 90% hwy, or up to about 75% country gravel roads at 40mph. 10.6mpg from Fl to MN in December every fill (cruising 75, and 1500lbs of stuff) 1,639 mi.
With the cam swap, about 11-11.5mpg. I think there is more in it, though. It still seems to be running a hair rich. But for now I can't do the adjustable FPR, or a chip, and don't have access to an egxhaust gas analyzer anymore anyways.