Methods and systems are provided for accurately determining the composition of a knock control fluid using sensors already present in the engine system. An intake or an exhaust oxygen sensor is used to estimate the water and the alcohol content of a knock control fluid that is direct injected into an engine cylinder responsive to an indication of abnormal combustion. A change in the pumping current of the oxygen sensor due to the water content of the knock control fluid is distinguished from a change in the pumping current of the oxygen sensor due to the alcohol content of the knock control fluid.