Im suprised and disapointed at the milage too. I have a 98 F250 4x4 with the 4.6 V8 and auto transmission and I get 14 to 15 mpg on it. I almost always drive around town, to it's stop and go for me every day.
I'm at 166,000 miles on it without any issues, and I'm struggling with what to buy to replace it. I know it's a matter of time until I HAVE to buy something new, and I like Ford a lot, but don't see any improvement in the engines over what they had ten years ago.
Sucks to have a car payment and not even get better milage.
Why did the stop making the 300 six cylinder? I agree with the others that it was a fantastic engine and just about impossible to destroy. Easy to work on and plenty of power.
Eddie