A fuel additive comprising a sol containing particles of at least one inorganic-metallic component and at least one organo-metallic component stabilized in a suitable hydrocarbon medium. The components are formed as a metal complex wherein the metallic element comprises at least one metal selected from the elements of Groups VIII to XI in the Periodic Table, preferably platinum, cobalt, nickel, copper, gold, rhodium or, most preferably, palladium. The organo component is an alkyl carboxylate, preferably acetate, and the inorganic component is derived from silicon, titanium, aluminum, and preferably silicate. The additive is preferably formed by (a) forming an aqueous solution of at least one metallic component; (b) forming a colloid of organo-metallic and inorganic-metallic components from said solution; and (c) extracting at least some of the metallic colloidal components from the aqueous solution using a suitable hydrocarbon medium under controlled PH, temperature and time.