This paper reports the results of an experimental investigation of graphene particle suspensions in lubricating oil, ethylene glycol and glycerol-based fluids. Graphene of different specific surface area show variation in the viscosity depending on the shear rate and the temperature. The lubricating effect, e.g. reduction of the viscosity compared to the base fluid, is observed for the low concentration (below 0.4 wt.%) in lubricating oil and glycerol. In the range of parameters studied (e.g. concentration below 1 wt.% and temperature up to 80 °C), the activation energy slightly decreases. The enhancement of viscosity with graphene volume fraction is stronger for ethylene glycol.