Tip #1: Set your expections more realistically - based on the information above, most F-150 owners I have spoken to fall within the expected EPA range for fuel consumption. It bears repeating that these are 5000 lb. full size trucks!
Tip #2: Do not underestimate the value of routine maintenance...oil changes and tune ups tend to help your mileage.
Tip #3: Using higher octane gas may squeeze a few extra miles out of a tank of fuel.
Tip #4: Lighten that right foot! Admittedly, I tend to drive my truck like it is a car, probably because this is the first truck I have owned. You would be amazed at the improvement in mileage you will see by simply slowing down or maintaining a consistent speed on the highway.
Tip #5: Changing the overall aerodynamics of your truck can increase you mpg numbers. An ongoing debate has ensued about the value of installing a soft or hard tonneau cover, or even driving with your tailgate down or off while on the highway.
Tip #6: Install a K&N air filter - many F-150 owners swear by them, and I saw a slight improvement in mileage after installing one. The best part is that you will probably never have to replace it, so it pays for itself after only a few oil changes.
Tip #7: Install free-er flowing exhaust, headers, computer chips, etc. - theoretically adding any of these products can increase (slightly) your fuel economy. I can say from my own experience that it looks like my mileage has decreased after adding a cat-back exhaust, computer chip and air filter, simply because I now take advantage of the increased horsepower! : - )