Not so much as efficient, but a cheap additive to prevent knock by mimicking higher octane fuel, that in the late 1920s, meant 70+ Octane
The decade before, the Model T had 4:1 Compression so it could run on straight run Gasoline or 'White Gas' that was Naphtha or 'Drip' from natural gas condensation, with low octane rates under 50, hardly better than Kerosene.
But Catalytic Reforming was expensive, sme for using higher grade 'Sweet' Crude Oil as the base for refining.
Rather than TEL, Some used Benzol, a byproduct from Coke and Coal gasification works that was mostly Benzene that has a rating of 114, but a number of other disadvantages besides cost.