The efficiency, durability, and overall performance of a car engine are influenced by several critical factors. The quality and properties of engine oil play a crucial role, and oil is used in internal combustion engines for lubrication and cooling purposes. This research study aimed to compare the impact of fullerene-C60 (99.5%), Fe2O3, and TiO2 nanoparticles on the thermal properties of C.A.L.T.E.X. red engine oil with grades 10W30, 20W40, and 20W50. This study focused on the effect of a nanoparticle concentration of 0.01 wt.% in different engine oil grades at various temperature values of 30–120 °C. The nanofluids were prepared using the two-step direct mixing method, employing a magnetic stirrer and an ultrasonicator, ensuring uniform distribution of nanoparticles in the base fluids. The thermal conductivity, thermal diffusivity, and volumetric heat capacity of the base fluids and nanofluids were measured using the FLUCON LAMBDA thermal conductivity meter. Additionally, flash points were measured using the flash point tester. It was concluded that the thermal properties of TiO2 and Fe2O3 showed considerable enhancement; in contrast, fullerene only showed a 212 °C flash point.