A portable grease gun with a dual pressure output capability which can be selectively changed by the user with little effort. A larger diameter plunger is longitudinally coupled to an extension. The larger diameter plunger and its extension are variable in length by manual rotation of the extension relative to the larger diameter plunger. The larger diameter plunger is slidable within a plunger retainer over a limited range and is not free to rotate within the plunger retainer. The larger diameter plunger and the plunger extension have aligned bores through them in which a smaller diameter plunger is slidable. The smaller diameter plunger moves when an actuating lever is operated to compress grease in the grease gun. The larger diameter plunger may be adjusted to remain static during operation of the actuating lever or it may be adjusted to move during all or part of the compression stroke of the actuating lever.