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That's what I have too, with automatic trans 3speed OD. I get about 24mpg on regular fuel. It only took me about 5 years to get things really going right. Here are some things to take a look at:
1. Replace the engine electrical cable harness if still original. The original cable insulation would crack, and fall apart, the connectors were not very good either. Some symptomes: , bad idling, rough idling when costing the car lurches, car won't start, hard to start when it should, or if you ever disconnected the cable harness from the computer in the engine compartment. Buy a replacement cable harness. Dave Barton carries these used: http://personal.linkline.com/dbarton/WireHarnesses.html
Instantly all of my rough engine idling problems went away.
2. On a full tank, you get strong fuel vapor smell. Less as the fuel level goes down. Maybe high idling speed to about 2500rpm when hot. Maybe fluctuating idling when hot. Hard starting when hot after driving and sitting for a while, like it's flooded. For me that was the water temperature sensor gone bad. Cost about $30. That's in the 700/900 FAQ. Pays for itself in 4 tanks of gas.
3. Vacuum leaks abound with cracked and broken rubber hoses. Buy about 6' each of various rubber tubing and replace all the stuff including the vacuum tubing leading to the heater controls.
4. Broken one way vacuum valve to the heater control. If your heater control does strange (sighing sounds) things depending on how you accelerate or idle, then the valve needs replacing which causes some small economy problems overall.
5. Get your overdrive solenoid replaced if broken. This is easy to replace if it's burned out, get the two o-rings too. Expensive as parts though, but you need it.
Items 1, 2, 3, 5 are the major items I think you can check and replace as needed. I'm pretty sure you will need to do a #1, and 3.
Hint: This was mentioned once before. On accelerating with an automatic, you want to get to the overdrive gear as fast as possible without flooring the car and wasting fuel. Unlike a manual shifter, to get best economy, the 240 needs to get to OD right quick.
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