Loss of power with bigger tires?

Hey everyone, Ross here.
I've been getting info from this site for awhile so I kind of know my way around but I do have a question that I couldn't find on any other forums.

I have a 2005 2WD Pre-Runner currently with a 2.5 inch level and 285's. I love them but want to go bigger. I checked in with my local customs shop and the guy said he could hook me up with a 6" suspension lift with 35x12.50x20 Fuel Mud Grippers. this setup would be perfect for me... however looking further into tire size, it would seem like a smaller tire would be easier on mpg and help save some overall power. Off-roading is not a factor since I live in the city, but my main reason for this post is to ask for suggestions. Would a 33" tire be more reasonable? Would investing in a gear upgrade or a new exhaust system increase power?

 

Upgrading to new gears would restore most of what you lost when you went to those big tires. Exhaust will hardly do anything power wise. Best thing to do, If you are woried about MPGs and power, would be toeither go with smaller tires or re-gear your truck

 

SUPERCHARGER!!!!!!!!!!!! This too.