(all of my fuel economy mentioned below is based on actual trip odometer miles divided by pumped gallons for a full tank)
I have been noticing a consistent decrease in fuel economy in my car over the last decade or so. This was both with the original internally stock M42, and my 2.1L built M42. It has perplexed me to no end, and I have replaced basically everything that I can think of which might be causing this: everything in the fuel delivery system, O2 sensors, ECU tunes, wheel bearings, rear diff, driveshaft & consumables, etc. None of this has helped.
Back in 2008, I was getting 29-33MPG commuting in mixed city/highway settings. Granted, because of the bad traffic, I turned it into a game of fuel economy optimization, with a lot of coasting and such. Still, 29MPG was basically the default when I was not really trying. Fast forward to ~2011. The same engine was now getting more like 23-25MPG. Major changes included me moving MUCH closer to my office, so the car was largely used for short trips in town, bu even still, my highway mileage took a dive too. Then that engine died, and I had the 2.1L built. Ever since then, I consistently get 18-21MPG with mostly city driving. Some of that is because this engine is a ton of fun, and I redline it every chance I get. I did do a 250 mile drive to visit a friend a couple of years ago, and I decided to try to get the best possible mileage. No flooring the gas, shifting at 4000RPM or less, and going exactly 65MPH. That netted me 26.5MPG, and that is the best I have ever managed with this engine.
As far as I can tell, one big change here in CA around 2010 was a bunch of new air quality regulations that mainly resulted in adding lots of ethanol and other oxygenators to gasoline. I think that most CA gasoline has ~10% ethanol by volume. That does not account for the ~15% decrease in fuel economy (for "behaving myself on the highway" cases), but it explains a lot of it. Other states have probably had some number of changes in the last decade, too. I need to see if some other county has different requirements and if I can try filling up with gasoline with no ethanol content. That is the only thing I have not yet tried in order to verify the cause of my lousy fuel economy.