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OK, I realize that a 460 is going to drink more gas than a 300-6, but our 94 f-250, Extended cab, 4x4, with a Dew-Eze bale bed on it gets horrible mileage...maybe 6 or less. That would be understandable if we were towing, but this is empty, with no bale on the back.
Other than that it runs great, Idles smooth, lots of power, pulls great. The exhaust does not smell like it is running rich, it does not foul plugs, it does not show any signs of anything wrong other than the drinking problem. No leaks either.
Are there any sensors that would cause it to drink this much gas and not run rich?
O2 sensor would cause this. If it hasn't been changed in the last 60k miles, I would start with that. You also may have a clogged exhaust. A vacuum gauge will tell you if that's the case. I would also pull the codes to see if the computer thinks there is another problem.
START with the codes, no need to drop ~$70 on a new O2 sensor if it's still working. At that mileage it's probably not working optimally but it may still be working good enough. If there aren't any codes then I'd start looking for vacuum leaks.
I would think your truck should get at least 10 mpg or better. If it seems to run good, I would definately replace the air and fuel filters, as well as get a fuel injection service performed. You would be amazed at what it would do for you. For example, I had a fuel inj. service performed on my 99 Ranger 4.0. @ 115K miles. Before I was getting around 18 mpg and the performance had really dropped off. After, the performance really picked up and I was getting 21 mpg. Huge difference when you drive 60 miles a day.
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