Yes, dense fuel has less oxygen in it, not practical for the street as the fuel goes thru and coolcan too quick to made a difference. In drag racing many classes won't allow it, for the turbo cars i'd set the aluminum fuel cell and iced water cell for the intercooler in direct contact with each other; pulling trucks with the cells exposed in the back will have iced bags wrapped around them or the fuel jugs keep in a bucket of ice and have the cell filled just befor staging.