What kind of fan do you have on it? I gained about 2MPG changing from a mechanical to an electric fan on my 96 Tahoe. The fan is not needed at highway speeds, all it's doing is beating the air for no reason and putting a big load on. A clutch fan does allow it to slip when it's not getting hot, but it is still robbing about 30HP. I suggest a
DC Controls fan controller with whatever fan you decide on. Flexalite is now making a fan set with shroud which pulls 6000CFM at max speed, which is more than the clutch fan will pull at redline. A 99 Silverado clutch fan will pull about 5000CFM at redline, and Chevy trucks are now being equipped with them from the factory, so towing is not an issue.
Another change would be long tube headers and a free flowing exhaust, but not too large. You don't say what engine you have now, I'm assuming you have the 4.6L V8. 2 inch duals or a 2.5 inch single line should work well. Be careful on muffler selection, SUVs are big boxes and the wrong muffler, even if quiet, will set up horrible resonance inside the truck. If resonance becomes a problem, adding a short glasspack at the back of the system will eliminate most, if not all resonance. Ford engines require a crossover on duals, which will also help with resonance. A proper exhaust can help gain up to 2MPG as well, and both mods will give you a lot more low end horsepower. Not only will this make the Exploder more fun to drive, it will also make it easier to pull the horse trailer, which will help save fuel then. Make these mods and keep your foot out of it, and you will save gas.
And, these two mods should make enough low end torque that you can change gear ratios. You can test this by putting a 10 percent taller tire on next time you get tires, if you still have enough power to get down the road this too will save fuel by working the engine less. Remember to multiply your mileage by the percentage difference of tire heights to get the correct MPG, and having taller tires will mean that you are going faster than the speedo shows.