I used to own a '96 Ranger similar to yours, so I am fairly familiar with it. Here are my suggestions:
1. Swap to 87/89 octane as others have mentioned. You will get better mileage!
2. Switch to full synthetic engine oil, transmission fluid, and rear end lube. My Scangauge actually measured a .1 gallon per hour improvement in fuel consumption (at idle!) by switching to Mobil 1 motor oil from regular dino oil of the same grade.
3. Swap your mechanical fan for an electric fan. The fan is a huge power hog on this engine and this swap is a very effective way to reduce your power requirements.
4. A tonneau cover is a good way to improve the aerodynamics of this vehicle.
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