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You will get on average about 3mpg less then if you were running gasoline. Propane has a lower BTU and because of that your mpg drops by about 10-20% when you do the switchover. It depends on a lot of things like compression, type of engine, type of propane injection system, etc.
The advantage is that propane in most places is cheaper; however it needs to be 10-20% cheaper to just break even. I have thought about it as well, the cost is prohibitive for me at the moment. Other disadvantages are that even with hardened valve seats it will wear out your seats a lot faster. So figure an engine rebuild every 100,000 miles or so. However in the interim you will be doing fewer oil changes.
I have heard that propane motors had twice the life expectancy of the same engine running on gasoline? I have also heard that the fuel economy will be same or slightly less on flat ground, but will really decrease in the hills. Propane is getting stupid expensive now, I would rather run gasoline. I used to want a diesel rig but now with the cost of that fuel staying outrageous, I dont want one now either.