this is basic organic chemistry on ethanol.... the OH (which makes it an alcohol) likes water.... the C-C (on ethanol C-C-OH) likes lipids like gas and oil.... and C-C-OH with some peat smoke.... and used bourbon barrels.... well I digress
Ethanol (C-C-OH) likes both "gas" and water.... but given the choice.... will sleep with water every time, but around gasoline... well any port in a storm