Upped a formation of AR 234's tonight, Hanger fuel range was indicated at 31 minutes for Full Fuel. After takeoff climbed to 15k turned to target 3 sectors away. Made first bomb pass, checked fuel for second pass, still had 38 minutes left (I had been running at Full throttle). Made second pass, turned for home 4 sectors away. Landed with an indicated balance of 31 minutes of fuel. Now I know throttle settings can have an impact on the fuel consumption, but something doesn't seem right.