It will have a 7.3 IDI in it. If im not mistaken factory HP was around 190 HP, will be more if it was a turboed model. Fuel economy depends on your gear ratio and transmission in the truck. Id say average 15-17 MPG.
The IDI motors are no motors if your wanting a lot of HP, but they are great in so many other ways like torque and simplicity.
With a 20 YO truck, condition, condition and condition are the three things that matter.
Our '93 gets 20+ MPG, a dually will get a little less because it has more tires on the ground and larger fenders (more drag). The truck was built with a 7.3L IDI and if you keep the addatives in the coolant, they are tough as nails and mostly bullet-proof.
non turbo 7.3s were rated for 180hp, factory turbo's were 190hp.... there isnt much you can do to up the hp on these either, other than the turbo. idis are not speed demons. i put a factory turbo on my 90 and a homemade 3 inch downpipe, which helped quite a bit, but my well used 99 psd would still run circles around it..... idis are easy to work on though.... i was getting about 15mpg with mine, a cc lb 4x4, with leaking return lines, even after putting new ones on, and fuel heater.
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