A filter assembly includes a housing with a central standpipe, and cover for enclosing a filter element. The filter element includes a ring of filtration media and first and second end caps. A vent orifice is formed in the first end cap into the central cavity of the media ring. A support core is disposed centrally in the media ring and extends between the first and second end caps. The core includes a separate and independent fluid channel extending from the first end cap that is fluidly connected with the vent orifice, to the second end cap. The second end cap has a central opening, and an annular sealing device bounding the opening which receives and seals to the standpipe and includes through-passages fluidly interconnecting the fluid channel in the core with flow opening(s) along the standpipe or in the lower end of the housing to a drain port.