A buddy who is a for real mechanic said:
No ,only water if present.
I also asked, because I never get any water, is there any such thing a water free fuel?
No such thing but you won't separate it in the time it takes going from the tank to the injectors. It's basically there incase you get a bad fill up with A LOT more water in fuel than normal. Like if you fill at a station where the tanker is currently filling the fuel tank your pulling fuel from. My filtration system has a separate water/fuel separator and I have not drained water from it in the last 6 years but I stick to certain fuel stations and don't fill at a station that has a tanker at it
Don and Mary