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A 1/8 NPT (national pipe thread) port is designed to be used with 1/8" Pipe or equivalent sized hose, as you can see far more than a 1/8" diameter is left uncovered. It's also worth noting most turbo feed lines get a .060" diameter restrictor in them to limit pressure, atleast all of mine have.
As far as the sender goes there will be no pressure difference either since there will be no flow through that port regardless.
Mike
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