Definitely possible. My uncle has a 2007 Ford Explorer limited edition, and on a trip out to Vegas at 75mph cruise control set we got 23.3. On the way back we got similar, might have been 22 or 21 but I was doing closer to 80 on the way back. At 55 and being easy, 30mpg should be possible.
[Edit]: His Explorer is a V8.
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