A direct oxidation fuel cell (DOFC) system, comprises at least one fuel cell assembly including a cathode and an anode with an electrolyte positioned therebetween; a source of liquid fuel in fluid communication with an inlet of the anode; an oxidant supply in fluid communication with an inlet of the cathode; a liquid/gas (L/G) separator in fluid communication with outlets of the anode and cathode for: (1) receiving unreacted fuel and liquid and gaseous products, and (2) supplying a solution of fuel and liquid product to the anode inlet; and a control system for measuring the amount of liquid product and controlling oxidant stoichiometry of the system operation in response to the measured amount of liquid product. Alternatively, the control system controls the concentration of the liquid fuel in the solution supplied to the anode inlet, based upon the system operating temperature or output power.