All Ford small block engines are designerd to give satisfactory performance on 87 octane according to the owner manuals. However, my 351 4bbl actually gets better milage using 89 octane. I never have done a cost comparison, so the little extra milage might not be worth the expense with todays prices of gas. I get about 4 mpg more on 89 when on the road by letting the truck drive itself using cruise control.
Probably the stock 302 engine 8.5 to 1 to answer your question.
Good luck,

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