It definitely takes a hit. You also have to think about your speedometer not being calibrated though. You are traveling a further distance due to the tire being larger. The drop isn't as bad if you take this into consideration and recalibrate.I know back when I had my gen 4 ram, i put a 2.5" lift on it. Stock tires were around 32" or so. Afternlift I put on some 295's which are roughly 33". It did change my mpg. Not horrible tho. I think once you deviate from manufacturers stock size, even if you go 1 size bigger, it affects the mpg.