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If that is the 2.9L, they are gas hogs. Not sure if you can advance the timing easily, but it will gain you a bit there by advancing it. Mostly it is HOW you drive that will net you the most MPG. You might consider a device that will give you instantaneous feedback (Scangauge II?) on your MPGs so that you know where your sweet spots are and where you need to improve.
Now if you had one of those old 2.0L Rangers - then there'd be no problem pushing 30+ mpg. I was getting 33+ mpg out of my old 1.9L 4spd 1984 S-10 with just advancing the timing.
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