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With early engines rated at 1100 h.p. and progressing to 1500 h.p. during the war. The Packard 4M-2500 engine was a supercharged, water cooled, gasoline powered V-12 engine, weighing approximately 2900 pounds. The Packard 4M-2500 marine engine was not the Rolls-Royce Merlin, nor did U.S. Navy PT boats use the R.R. Merlin engines, which is sometimes misstated. However, Packard did built a version of Merlin Engine under contract by Britain for British aircraft use.
Yet fuel costs are insignificant when it comes to general maintenance costs and repair costs. I'll use two engines of comparable power to illustrate, a Crusader 350 HP gas and a Caterpillar 3208, 340 HP diesel engine. I have here on my desk a major overhaul bill for each. The Crusader engine was removed from the boat and rebuilt on the bench in a shop; the Caterpillar rebuilt in place in the boat.