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I used 5W-30 in both my 5.0 Mustangs and never had an issue. I don't know anything about Jasper Engine Warrenties but I would use what they state in their warranty until it's ended and then switch just to be safe if it is a new engine, either than that 5W-30 shouldn't harm a thing.
I use 5W-30 all year round in my truck and Expy until January and February because it gets reallly cold up here in Canada and then I usually go to a 0W-30. I'm talking temperatures of -30 to -40 celcius. ( not too sure on the conversion to Ferinheit )
A quality dino 5w30 oil, will be just fine, year around, in your 302 Bronco. Use with confidence, in fact, something like Chevron Supreme, 5w30, if you are looking for a specific brand.
Chevron Supreme is 5-Star ***** quality, for the price.
You're welcome. The 302 in your Bronco will love it even more! This type of oil (5w30) will help the bottom part of your motor (crankshaft, bearings, sleeves, ect.) rotate much more easily, as compared to a thicker oil. The oil film is much better too, compared with oils from the SAE "SE SF SG" era, so look for a SAE rated "SJ" or "SL" on the quart container, your Bronco will own the road!
Ed
When refering to oil the first number is the rating given based on the oils ability to flow at 0* F, W means winter and the second number is the abilty to flow at 212*F. Keeping this in mind you will see that 5W30 will flow better at 0*F then 10W30. How much better I don't know. You can look up American petroleum Institute (API) to see I would think. They decide what the requirements are for grades and viscosities. Either way both oils flow the same at normal operating temp but the 5W30 will get oil to the bearings faster in coulder weather. 0W30 would be even fater to the bearings but would be overkill unless you lived in an are where temps get that low. Now you also want to keep n mind most all oils have a two letter rating as well. If you look on the bottle you will see a seal with the letters SA or SB or SC or hopefully, if it's a new bottle, something like SL or SM. Basically the first letter is an "S" which stands for SPARK and the second will be a letter thats not quite midway in the alphabet. The higher the second letter the more addatives the oil has. The additives have detergents, anti-oxidants and other things in it to help suspend the dirt particles in the oil which in turns allows the filter to better catch them. Anyway I would look for more then just the number on the bottle. Look for the classification. There are bottles with CL or CM also. These are for deisels. The C stands for Compression. Gas ignities with spark and deisel ignities with compresion.