That's clear.
I've got the Torquemasters and Granatelli wires on my 3.5L NA gasoline v6, with the EFIE and I'm doing quite well with mileage since grooving the TB. For you, the new spark plugs would be a good start...but talk to the people at Extreme Spark as well - they know their products and users best.
I forget - is your TB grooved?
According to Rock Auto for that year/model (in North America), there are 2 engines available an Inline 5cyl 2.5L turbo, and an Inline 6cyl 2.9L turbo - no diesels. both are Coil on plug ignition.
If you're thinking about upgrading the rest of your ignition system, go poke around on this guy's website
best-itech.comhttp://best-itech.com/index.htm
he makes insulators that he claims help make for better spark/mileage.
The videos are rather compelling...
I would bet that
Granatelli racing
has coils you could upgrade to for even bigger sparks but they'll likely be somewhat spendy...as an investment in efficiency over time, however, it may prove beneficial if you're planning on keeping the vehicle.
They don't list anything Volvo, but they may be able to recommend a product, Global parts bins and supply chain being what they are, I'd wager/guess your Volvo coils are re-branded Bosch parts - worth a pre-sale email to them.
As a really deep dive into Ignition improvements, Aaron Murakami claims he has the contact of a manufacturer who will make direct replacement coils for Coil-on-plug ignitions that function to make plasma as per his design - that would probably committing to a run of thousands, so if you want to turn into a salesperson/dealer, go look on his
forum
I'd also recommend visiting
Eagle-Research: Innovating for a Sustainable, Healthier Future
Eagle-Research: Innovating for a Sustainable, Healthier Future
and look for his EFIE circuit: you'll need one for each upstream Oxygen/lambda sensor especially after upgrading your ignition - they will help adjust fuel delivery to compensate for improved burn in your engine's cylinders.