Just because 240 volts is twice the voltage of 120 doesn't necessarily mean that there'll be less voltage drop.
The drop in volts will be the same for the same load and wire size.
If the load (in watts) is the same, the current at 240V will be only half that at 120V. So if the size and length (and hence the resistance) of the wire is the same in each case, the voltage drop must be lower, not only as proportion of the supply voltage but also in absolute terms.