Just to be sure...you're checking voltage at the positive wire with your voltmeter...and you have a good ground for the negative meter lead?
If so, you have found your issue. You are dropping the voltage somewhere between the source and the sending unit back at the tank.
Get your prints and find out where the voltage is supplied to that circuit and start tracing it until you get to the place where it disappears. Could be a bad fuse, fuse holder, broken or corroded wire or something like that.
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Greg Reid
Palmetto, Georgia
 
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