Mileage will be worse as E85 has less BTU's per Lb than Gasoline. Pulled from the Web:
A gallon of E85 has an energy content of about 80,000 BTU, compared to gasoline's 124,800 BTU. So about 1.56 gal. of E85 takes you as far as 1 gal. of gas.
Also take in mind that you can't just run the stuff in a car that isn't configured for it. It is extremely corrosive due to being part alcohol. All of your rubber lines will need to be changed, and also that the E85 compliant cars run Stainless Fuel tanks due to being corrosive.
The reason the boost / high comp guys run it is E85's higher octane rating therefore it resists detonation better than gasoline. Some people say its 105 octane, yet some say it really figures out to only 94-96 octane. They can turn up the boost and / or timing and have less worry's about spark knock.
Basically no you can't run in your car as it is without converting shit over. That is unless your car was built for it then yes you can run it. I know my Ford is a Flex Fuel vehicle but I've never tried to run it. It's hard to find in the Newnan Area.
Hope that helps






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