Unfortunately, the EPA test does not reflect the current speed limit. From what I have read elsewhere:
"The EPA GAS MILEAGE GUIDE, available at each dealership, points out that the actual mileage when driving a vehicle may differ considerably from the estimated mileage. The guide also describes how vehicles are tested under identical conditions to ensure that the results can be compared with confidence.
The EPA GAS MILEAGE GUIDE also points out that the city fuel economy estimate simulates a 7.5 mile stop-and-go trip with an average speed of 20 mph. The trip takes 23 minutes and has 18 stops. About 18 percent of the time is spent idling, as in waiting at traffic lights or in rush hour traffic. Two kinds of engine starts are used: the cold start, which is similar to starting a car in the morning after it has been parked all night, and the hot start, similar to restarting a vehicle after it has been warmed up, driven and stopped for a short time.
The test to determine the highway fuel economy estimate represents a mixture of "non-city" driving. Segments corresponding to different kinds of rural roads and interstate highways are included. The test simulates a 10-mile trip and averages 48 mph. The test is run from a hot start and has little idling time and no stops.
The EPA GAS MILEAGE GUIDE explains that the actual test results are adjusted downward to arrive at the estimates used in the booklet and on the labels. City estimates are lowered by 10 percent and the highway estimate by 22 percent from the laboratory test results. The guide also points out that traveling at higher speeds lowers fuel economy and traveling at 65 mph instead of 55 mph lowers fuel economy over 15 percent."
With regard to the Z06, Automobile Magazine's drive of one in Europe noted:
"Even in Modena, the Corvette Z06 attracts attention. Questions are all about performance, of course. Acceleration? Oh, a bit quicker to 100 kph than a Porsche Turbo. Top speed? Oh, about 300 kph. Okay, that's stretching a bit, according to our technical director, but it's close enough for bench racing. In any case, our interrogators nod their heads, completely persuaded by the car's serious aura. Ah, yes, they say, looking at the impressive red valve covers and curved induction pipes, but it must really suck up the fuel, yes? No, not really. About 9 liters per 100 km (26 mpg). And that's where the Italian, French, and Swiss enthusiasts walk away, disgusted by our outrageous exaggeration.
But that's actually what we did on motorway trips, cruising at 93 mph plus, a bit better than in our own Renault Scenic running at 81 mph. That astonishing economy is perhaps the most impressive part of the Corvette's abilities; one expects the rest."
Of their long-term test car at home in the States, they wrote:
"Nonetheless, this is a supremely competent long-distance tourer - fast (oh so fast), comfortable, and economical. This last is a real surprise, as you don't usually expect 27 miles per gallon from a 385-hp car. Yet at a steady 80 mph, with occasional forays into the triple digits, our Z06 was sipping gas like a Corolla."