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For a 2001 Chevy Silverado 1500, it's recommended to use SAE 75W-90 Synthetic Axle Lubricant (GM Part No. 12378261) or an equivalent that meets GM's 9986115 specs in the rear differential. It's advised to change this fluid every 15,000 miles, especially if towing often. You can drain it by removing the bottom drain plug with a 3/8" ratchet, catch the oil in a container beneath. After draining, take out the filler plug, also using a 3/8" ratchet, located on the passenger side behind the drive shaft. Fill the differential to 5/8 inch to 1-5/8 inch below the filler plug.
The Chevy Silverado from 2001 requires 75w-90 differential fluid for optimal performance.