I recently purchased an 05 Volvo v70 wagon with 150k miles. I have been averaging about 24.5 mpg with local driving, half in town and half road.
I went on a long trip yesterday (~750 m), and was able to check mileage against 2 fill-ups-95% hiway miles. I got 30.2 going, and 30.1 returning. About 3/4 of the trip was hills and 1/4 flat land. My speed was 70-75, it rained nearly all the way and traffic was heavy.

Is about 30 mpg typical for hiway miles.

 

That's pretty good. We've had a 2007 V70 2.5T since day one and have taken many road trips. All freeway we can get 25 mpg at best. Around town is 19-20 mpg.

 

OP, I get the same on the highway, cruising at 65mph I can get 30-31mpg all day long. 70mph takes it down to 29.5 or 30mpg. 75mph gets me 28-29mpg-ish. Around town I'm harder on the accelerator, so I get 22-23 typically. It's a standard and I like to row the gears a bit more enthusiastically than most

It's really great to have a large-ish wagon, safe, fun (thanks to 5spd), with good looks, that returns great gas mileage on trips and acceptable mileage around town.

 

I did another shorter trip today- 330 miles. This time I tried to drive the speed limit- not over. Most of the trip was around 65mph average, some as low as 45, and a little around 70. Light traffic and smaller country roads- 31.5 mpg.

I am so impressed with this auto.

 

My car is a bit older than yours, a 2001, I get about 29.5 according to the computer on long highway trips. Around town is Pittsburgh where nothing is flat so mileage drops to 14.5.