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The range left is underestimated (when near empty) for safety reasons, I guess.
You wouldn't want to fall short of fuel while it indicates there should be some left.
The fuel consumption indicated by the MID is less than the actual consumption calculated from the pump, but in part that can be explained by the fact that the Insight sucks excess vapor from the tank into the air intake. It cannot measure the amount of fuel that evaporates and gets sucked in, it only measures the liquid fuel it uses.
For every tank of fuel a tiny amount will evaporate, so there will be a difference even if all gauges work correctly. The Insight still burns the evaporated fuel, so the pump shows the real consumption.
My MID is 3 to 5 % optimistic on FE.
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2011 Honda Insight + HID, LEDs, tiny PV panel, extra brake pad return springs, neutral wheel alignment, 44/42 PSI (air), PHEV light (inop), tightened wheel nut.
  lifetime FE over 0.2 Gmeter or 0.13 Mmile.
For confirmation go to people just like you.
For education go to people unlike yourself.
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