You might want to check the specs on your tires. They will usually have a rim width range (i.e., the rim widths that they can safely be installed on). Typically, though, you won't have much trouble upsizing or downsizing .5". If you go too far in either direction, you risk compromising the performance of the tire, but that usually only happens in extreme cases where you stretch or bulge the tire to the point that it loses its bead on the rim. As far as the mpg difference... you'll have to wait and see, I guess.
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