New cerium-based ceramic pigments, displaying Ce₂Pr_0.2Fe$_x$O$_{4.3+y}$ stoichiometry, were obtained at low temperature using a sol-gel method. The powder precursor dissolved in 80% ethylene glycol was precipitated using ammonia and the obtained gel calcined at 800°C for 2 h to yield homogeneous and crystalline particles with a diameter of around 150 nm. The oxide was composed of cerium in its +4 oxidation state and Pr in its +3 oxidation state. The oxides with varying Fe content had an intense red-brown colour, with bandgap energy of around 2.2 eV at 0.1 mol% Fe doping. The near infra red reflectance from these pigments, a measure of their ability to reflect rather than absorb heat waves from sunlight was found to be 82.7%, even in the absence of a white reflective base. Such high near infra red reflectance from these pigments qualify them for being ideal cool pigments for surface coating applications.