Octane does not indicate the level of power that you can get out of gasoline, it tells you how easy it is to explode or detonate the gasoline (which is what your engine does when it runs)Higher Octane = harder to explode.
The higher altitude means atmospheric pressure is less, which means the air is thinner so a lower octane gas can be used because it needs to be easier to ignite or explode.
Most American made cars and trucks run fine on 87 (or in your case 85) octane gas. Higher performance cars with higher compression engines need higher octane so that the gas explodes when the piston is at the top of the stroke rather than when it is still coming up (this is what causes pinging or knocking, and will degrade the performance and possibly damage your engine).
My2004 Nissan Maxima recommends 91 Octane fuel, because the engine has more compression than the Rangers engine, and while it can run on 87, gas mileage does suffer a bit because the knock sensors in the engine adjust for the lower octane. So while I can run on lower than 91 octane, I get better results and more mileage out of the 91 octane fuel in that instance. And I do come out ahead money per mile wise by paying a little extra for the 91 octane.
The Ranger will not get any performance increase by using higher octane gas. it will run the same, get the same mileage and be just as happy using any grade of gas, so why throw the money away on higher octane when good ole 87 will be just fine.
AJ