Switch from 3.73 to 3.08 would drop the RPMs by 400 at 65MPH, and that's about a 20% drop, approx. 2,250 down to 1,850 assuming 27" tires in OD(5th gear)
2.3l engine sucks in 2.3liters of air for each 2 RPMs, 4 stroke engines needs 2 full revolutions of the crank shaft for each complete cycle of all cylinders firing.
Fuel use for gasoline engines is based on 14:1 air:fuel ratio
The more air that is used the more fuel is used.
And the more fuel that is used the more power the engine generates.
Use more air get more power, that's why turbos add power, and why a 5.0l has more power than a 2.3l or 4.0l, more air, lol.
2.5l engine would use........................2.5liters of air per 2 RPMs
So would use slightly more fuel and generate slightly more power.
2.5l has a longer stroke of the pistons which translates into better torque more than horse power
1996 2.3l
112HP
135ft/lb torque
1998 2.5l
117HP
149ft/lb torque
While the extra torque would be nice, especially with 3.08 gearing, your MPG wouldn't be as good with 2.5l
these are great metrics, text book basics for the most part. no arguements there.
but there is much more in the comparatives then you would think.
the actual condition of this powertrain in its entirety vs baseline oem is a key starting point.
going to 308 gearing will likely result in worse economy the way you sit right now.. unless you slam the truck and put tiny tires on it. you have to match the tire size to the 308 gears.....this can be the mpg champ with less rolling stock to move in city traffic. and do well on the highway. in theory anyway.
theory
all things being equal, the 2.5 will almost always get better mpg. its better. a 3.7 v6 will beat the 2.3 mpg in this application stock to stock and all things being equal. and it is 1.4 liters larger.
you can run a custom ring and piston package with the 2.3 you have now with reduced throw weight and balancing and cleaned up h.c.i. combination and mild tune and produce 20 to 25 percent more power all around and get close to matching fuel economy.
this would exceed the 2.5 power a bit and get close to economy......and cost 2-3 grand. but theres better combinations, proven combinations that will get to 180 plus hp and well over 200 ft pounds. they will get best economy with 410 gears and 235 tires at 65 mph. but that would probably be 18-19mpg...and cost much more.
on the other side of that 6.5 liters in a 6000 plus pound truck can pull 25 mpg on the hiway. sure the fuel is responsible for 30 percent of that, but 6.5 liters is much more then double the air capacity of a 2.3......
so theory is just for basic descriptors..... determining the actual condition of your engine and spending the time with a dynotuner for fine tuning the engine to fit your driving needs are things you can do to work with what you have. 30 mpg with a 2.3 in a ranger though is not the easiest thing to do.
but it does get done.
whether or not a e fan will help enough to notice depends on your actual drive cycle conditions.....but it is a 100 percent benefit item as far as variables are concerned. some people just cant understand that though.
if you have the skills and its not a high cost swapping a 2.5 powertrain could easily be the easy button for 30 mpg.