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I recently acquired an 89 full size Bronco - 302/auto w/150k. It's always been well cared for, it's a little tired but runs and looks good. It sat for 2-plus years before I purchased. On the intial voyage home, about 30 min into the trip at hiway speeds, the engine lost power. The only way to describe it was like driving with your foot on the brakes. I limped it home, did the plugs, fresh gas, oil change, inspected (brakes/Wheel cyl) etc. Drove a few short trips after with no issues. Decided to extend the trip the past week and once again, after about 30-40 min of driving the same thing - loss of power, engine light flickering, etc. Just curiois if there is a computer/modulator or something I should be changing to alleviate...any help is greatly appreciated.
Change the fuel filter, it sounds like some dirt got into it and plugged it, reducing the fuel flow. If you have the means, you could check the fuel pressure before, it should be around 39psi.
Check the fuel pressure the next time you lose power, you'll have to buy a pressure tester, if it's out of spec, get a new fuel pump.
On my 1990 DonKo the fuel pump went out because there's a valve in the body of the fuel pump that got pushed out of place and resulted in the pressure dropping. When the fuel pump was turned off the pressure would drop quickly, check for this symptom also during your troubleshooting. After sitting for awhile the valve would replace itself to the correct position so it seemed that the fuel pump was working correctly. But it would go bad again with the same symptoms you describe.
Another troubleshooting step was to blow into the return line. If it's possible to blow into the return line then the fuel pump is bad, you shouldn't be able to blow any air into the return line.
I bought a new pump from Ford, they had re-engineered the electrical connections so I had to solder in a new connection. See pictures in My Garage.
The problem rears its head after a half hour or so...hmmm. Pull codes and see what the on-board computer "thinks" is wrong. If you get nothing there (all code 11 or 111) AND you follow g-k50's suggestions and still have the problem, you may be dealing with a thermal sensor issue which can be dealt with but the troubleshooting is a bit more involved.
Definitely follow the advice the guys have already given first though.