Premium gasoline with a higher octane value is only useful in a high compression engine. If your car is typical it won't get anything useful out of premium no matter how old it is. On the other hand if your car has a high compression engine it needs premium even when old.
I did have one old car that needed mid-range in the summer because it started pinging when hot with regular.
I had a car that started to ping because the CAT was clogged up, I had to replace the CAT and no more pinging or more power.
I used to think so.
With 87 octane (10% Ethanol) my 1-ton work van gets 15 mpg. With 91 octane (no ethanol), it gets 18 mpg. The 20% increase in mileage is greater than the increase in cost between fuels.
How do I know if my engine is high compression?