1Be therefore imitators of God, as beloved children. 2Walk in love, even as Christ also loved us and gave himself up for us, an offering and a sacrifice to God for a sweet-smelling fragrance.
3But sexual immorality, and all uncleanness or covetousness, let it not even be mentioned among you, as becomes saints; 4nor filthiness, nor foolish talking, nor jesting, which are not appropriate, but rather giving of thanks.
5Know this for sure, that no sexually immoral person, nor unclean person, nor covetous man (who is an idolater), has any inheritance in the Kingdom of Christ and God.
6Let no one deceive you with empty words, for because of these things the wrath of God comes on the children of disobedience. 7Therefore don’t be partakers with them. 8For you were once darkness, but are now light in the Lord. Walk as children of light, 9for the fruit of the Spirit is in all goodness and righteousness and truth, 10proving what is well pleasing to the Lord. 11Have no fellowship with the unfruitful deeds of darkness, but rather even reprove them. 12For it is a shame even to speak of the things which are done by them in secret. 13But all things, when they are reproved, are revealed by the light, for everything that reveals is light. 14Therefore he says, “Awake, you who sleep, and arise from the dead, and Christ will shine on you.”
15Therefore watch carefully how you walk, not as unwise, but as wise, 16redeeming the time, because the days are evil. 17Therefore, don’t be foolish, but understand what the will of the Lord is. 18Don’t be drunken with wine, in which is dissipation, but be filled with the Spirit, 19speaking to one another in psalms, hymns, and spiritual songs; singing and making melody in your heart to the Lord; 20giving thanks always concerning all things in the name of our Lord Jesus Christ to God, even the Father; 21subjecting yourselves to one another in the fear of Christ.
22Wives, be subject to your own husbands, as to the Lord. 23For the husband is the head of the wife, as Christ also is the head of the assembly, being himself the savior of the body. 24But as the assembly is subject to Christ, so let the wives also be to their own husbands in everything.
25Husbands, love your wives, even as Christ also loved the assembly and gave himself up for her, 26that he might sanctify her, having cleansed her by the washing of water with the word, 27that he might present the assembly to himself gloriously, not having spot or wrinkle or any such thing, but that she should be holy and without defect. 28Even so husbands also ought to love their own wives as their own bodies. He who loves his own wife loves himself. 29For no man ever hated his own flesh, but nourishes and cherishes it, even as the Lord also does the assembly, 30because we are members of his body, of his flesh and bones. 31“For this cause a man will leave his father and mother and will be joined to his wife. Then the two will become one flesh.” 32This mystery is great, but I speak concerning Christ and the assembly. 33Nevertheless each of you must also love his own wife even as himself; and let the wife see that she respects her husband.
The "wine" spoken of in this passage is with little doubt fermented since the word is oinos (οἶνος), a translation of the Hebrew word yayin (יַ֜יִן). The word for "grape juice" (thus not fermented) is trux (τρύξ), a word not found in the New Testament. The limited use of grape juice may relate to the rapid fermentation of grape juice in the climate of Israel. It was common, however, to mix two to three parts water with wine in the first century, a practice that came from Greece with the Hellenizing influence that came from Alexander the Great's entrance into Semitic culture in the middle of the 4th century B.C. This was largely done in order to lessen the cost of wine rather than for sterilizing the water, which is sometimes posited as the reason.
You may read a more extensive study of wine in my article on wine at [H. Wayne House], "Wine," Baker Encyclopedia of the Bible, Vol 2, J-Z, Walter A. Elwell, Gen. Ed. (Grand Rapids, MI: Baker Book House), 2145-2148.