An apparatus and a method for determining the thermal conductivity of a fluid specimen are provided. The apparatus and the method include determining thermal conductivity using a quasi-steady state variable gap axial flow technique. The fluid specimen is heated on one side by a heat source with a known power output and cooled on the other side. After reaching steady state, a resulting temperature drop through the fluid specimen exists. This temperature drop, the known fluid specimen thickness (or gap distance), and the known power output are used to calculate the thermal resistance of the fluid specimen. The thermal conductivity of the fluid specimen is then determined using a curve fit of thermal resistance with respect to gap distance.