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Well, in a modern fuel injected vehicle, technically...the consumption would be better leaving it in gear. At idle, the engine is still under a partial load just to stay running. Under decel, the idle air control is totally closed and the injectors are running at full lean. The only way it might not be an advantage is if you were at something like 5000rpm or higher to decelerate. Injector pulse still pulse on each intake stroke, but even at full lean that'd still be a decent amount of fuel used having to pulse that fast.
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