A fuel storage and supply arrangement serving as a source of fuel to be dispensed via at least one fuel dispenser in a fuel dispensing environment, comprising: a storage tank for containing a quantity of the fuel; a pump assembly for drawing the fuel from the storage tank providing the fuel under pressure; fuel supply line configured to convey the fuel under pressure from the pump assembly to the at least one fuel dispenser in a dispenser flow path; a fuel conditioning and filtration assembly comprising: a housing having: a housing inlet receiving the fuel under pressure created by the pump assembly; and, a housing outlet whereby the fuel entering the housing inlet exits the housing through the housing outlet; a filter element within the housing and interposed in the flow path between the housing inlet and the housing outlet, the filter element being configured to remove water from the fuel passing through the filter element; a return tube receiving fuel from the outlet of the housing and having a discharge end disposed proximate to a bottom of the storage tank such that fuel flowing through the return tube causes turbulence in the fuel at the bottom of the storage tank; wherein the flow of fuel to the housing inlet of the housing and through the discharge end of the return tube defines a fuel conditioning and filtration flow path; and, a flow control valve controlling the flow of the fuel along the fuel conditioning and filtration flow path; characterized in that the fuel storage and supply arrangement further comprises: a vacuum source connected for selective fluid communication with the housing outlet of the housing via at least one vacuum control valve; and water supply tubing connected for selective fluid communication with the housing inlet of the housing via at least one water supply control valve; wherein application of a vacuum to the housing outlet via the at least one vacuum control valve draws water from the bottom of the storage tank into the housing via the water supply tubing when the at least one water supply control valve is open. a storage tank for containing a quantity of the fuel; a pump assembly for drawing the fuel from the storage tank providing the fuel under pressure; fuel supply line configured to convey the fuel under pressure from the pump assembly to the at least one fuel dispenser in a dispenser flow path; a fuel conditioning and filtration assembly comprising: a housing having: a housing inlet receiving the fuel under pressure created by the pump assembly; and, a housing outlet whereby the fuel entering the housing inlet exits the housing through the housing outlet; a filter element within the housing and interposed in the flow path between the housing inlet and the housing outlet, the filter element being configured to remove water from the fuel passing through the filter element; a return tube receiving fuel from the outlet of the housing and having a discharge end disposed proximate to a bottom of the storage tank such that fuel flowing through the return tube causes turbulence in the fuel at the bottom of the storage tank; wherein the flow of fuel to the housing inlet of the housing and through the discharge end of the return tube defines a fuel conditioning and filtration flow path; and, a flow control valve controlling the flow of the fuel along the fuel conditioning and filtration flow path; characterized in that the fuel storage and supply arrangement further comprises: a vacuum source connected for selective fluid communication with the housing outlet of the housing via at least one vacuum control valve; and water supply tubing connected for selective fluid communication with the housing inlet of the housing via at least one water supply control valve; wherein application of a vacuum to the housing outlet via the at least one vacuum control valve draws water from the bottom of the storage tank into the housing via the water supply tubing when the at least one water supply control valve is open. a housing having: a housing inlet receiving the fuel under pressure created by the pump assembly; and, a housing outlet whereby the fuel entering the housing inlet exits the housing through the housing outlet; a housing inlet receiving the fuel under pressure created by the pump assembly; and, a housing outlet whereby the fuel entering the housing inlet exits the housing through the housing outlet; a filter element within the housing and interposed in the flow path between the housing inlet and the housing outlet, the filter element being configured to remove water from the fuel passing through the filter element; a return tube receiving fuel from the outlet of the housing and having a discharge end disposed proximate to a bottom of the storage tank such that fuel flowing through the return tube causes turbulence in the fuel at the bottom of the storage tank; wherein the flow of fuel to the housing inlet of the housing and through the discharge end of the return tube defines a fuel conditioning and filtration flow path; and, a flow control valve controlling the flow of the fuel along the fuel conditioning and filtration flow path; a vacuum source connected for selective fluid communication with the housing outlet of the housing via at least one vacuum control valve; and water supply tubing connected for selective fluid communication with the housing inlet of the housing via at least one water supply control valve; wherein application of a vacuum to the housing outlet via the at least one vacuum control valve draws water from the bottom of the storage tank into the housing via the water supply tubing when the at least one water supply control valve is open.