A77fj40;
Are u smelling gas fumes? Is there a wet spot under the cruiser after parked for a while? If so, u could have a leaking fuel pump. Its located right side of engine, front, down near the oil pan. U may have to replace same. 7 mpg is way out of line. Should be 12-18 mpg.
Do u have any service records? The chances are that will need new spark plugs and wires. This is just for starters; next will be a carb rebuild. Check timing to see where it is. All this 2F engine needs (for the moment) is a good tune up. Do a compression test to see where each cylinder is; Check timing, replace spark plug wires and plugs and then see what happens.
Get the FSM(s) for this vehicle (Factory Service Manual(s). An auto parts store will carry the Haynes manual #313, which is good for getting u started on general knowledge. I have a post on here in the FJ40 section listing the manual numbers. Read the FAQ's and do a lot of searching on the site to upgrade your knowledge. There are guys on this forum that know almost every part number on an FJ40 - we have no lives...
And welcome...
And PS: pre 1975 FJ40's will get better mpg than later , post 1975, because of smog **** and engine head design. My 1973 used to get close to 20mpg with a tail wind.