[mini rant mode]
First of all, “grade” and “octane” are two different things. The octane rating is just how much you can compress the gasoline before it spontaneously combusts all on its own just from the compression. The way gasoline is supposed to work is that you compress it, then you ignite it with a spark, and that’s what makes your engine go. If you have too low of an octane though it may ignite just from the compression, which is too early in the cycle. The engine will knock and may even be damaged. Fortunately, most modern engines can compensate for this and while they may not work as efficiently, they will at least detect the knocking and will adjust themselves so that you don’t damage the engine.
None of this has anything to do with how much energy you have per gallon of gasoline. High octane gas isn’t necessarily “better” and in fact may or may not have less energy per gallon than the low octane stuff. People think that high octane is better because high performance engines need it. That’s only because high performance engines also tend to have higher compression ratios. They need the higher octane in order to run properly. That doesn’t mean the fuel itself is any better.
The fact that they refer to the octane rating as “grades” is all just marketing BS.
I also like “enriched with up to 15 percent ethanol” that I see on pumps around here. Excuse me, but “enriched” usually means adding something to make it better. Making my gas mileage drop by a couple of percent isn’t “enriching”. Bastards.
[/mini rant mode]
Ok, that said, while many cars will run on 87 octane (I’m intentionally not using the term “low grade”) a lot of them only run without any noticeable problems because they have properly functioning knock sensors and systems that compensate for it. If you actually look in the manual you’ll find that many of these cars actually require 89 or better.
In my own personal experience, my mother’s old Toyota Camry used to require 89 octane. You could put 87 in it without it knocking, but your mileage would go down. Also, if you put 91 into it the mileage would also go down, though not as much. So it definitely ran best on 89 octane.
My Cadillac recommends 91 octane or higher, but requires 89 or higher. The mileage is best with 91 octane but it’s not enough better than 89 to justify the extra cost. The best cost per mile comes from 89 octane. It will technically run on 87 without noticeable knocking (I’ve done it in a pinch when I was out of gas and the only pump working where I stopped was 87 octane) but the manual says that it requires 89 or better.
My Dodge pickup truck requires 89 or better. It pings a bit with 87 octane.
You should always go by what the manual says. Just because you can stuff 87 octane into the tank and you don’t hear it pinging doesn’t mean it’s good for the engine.