The answer to this question is no. There is no savings in money and no increased gas mileage. The octane rating is for detonation prevention - if your manufacture reconends that your cars is run on a higher octane then you should always try to match that. This is for motor longevity - the money savings here could be an arguable point. If your car seems to run fine on 87 with no 'pinging' sound from it then by all means use it!
Gas milage tips - do not race to a stop. Makes sure you use a preimium oil with your oils changes. Make sure your filters are clean, especially the air filter. Use cruise control when on the highway. Make sure your tires are at the proper inflation pressures. Turn off your air conditioning when you don't need it - this also applies the the defroster too (it used the a/c compressor to dry the air). Do not drive your car with the check engine light on - it's in limp mode and is not getting the best milage possible.
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Edited by MastrTech on October 26 2005 at 8:09 PM
Wes Harrison
Above and Beyond Auto Repair