I think it's the gauges, they're set to go down less at first to give the impression that you're getting better mileage, so I've heard.

I've gotten 150 before 1/4 tank, and 300 at half once, but at the "E" mark I'm at 400+, and I put about 12 gallons in when it's on "E".
So it can't be accurate, cuz it's a 14 gallon tank, and that would mean that I couldn't even go 200 miles after 1/2.
-Peter