Oman recorded an 11.7 percent increase in its import prices year on year during the second quarter of 2026. Official figures released by the National Centre for Statistics and Information showed that a sharp surge in mineral fuel costs drove the upward trend.
Mineral fuel expenses climbed by 45.5 percent compared to the same period in the previous year. Prices for animal and vegetable oils, fats and waxes rose by 16 percent, and chemicals and related products increased by 11.6 percent.
Crude materials, excluding fuels, went up by 8.3 percent. Manufactured goods classified chiefly by material gained 7.1 percent, according to data reported by the Oman News Agency.
The overall import price index increased by 2 percent compared to the first quarter of 2026. This followed a previous annual increase of 5.8 percent in the January-March period.
On a quarterly basis, mineral fuels and related materials jumped 21.1 percent. Beverages and tobacco increased by 13.8 percent, and prices for chemicals and manufactured goods each rose by 12.5 percent.
Certain categories experienced declines during the second quarter. Prices of machinery and transport equipment fell by 12.8 percent quarterly, while crude materials dropped by 8.7 percent.
Miscellaneous manufactured articles fell by 1 percent, and food and live animals decreased by 0.3 percent. On an annual basis, beverages and tobacco rose 6.5 percent, and food and live animals increased by 1.1 percent.
The price increases coincided with volatility in global commodity markets and regional shipping disruptions linked to the conflict in the Middle East. Higher energy costs, elevated freight and insurance charges, and longer maritime journeys added pressure to import-dependent economies.
The International Monetary Fund reported in April that maritime insurance premiums and freight costs had risen as vessels took longer routes. Oman was less exposed to direct shipping disruptions because its maritime access extends beyond the Strait of Hormuz.
The World Bank projected in April that global energy prices would rise by 24 percent in 2026, citing attacks on energy infrastructure and shipping disruptions in the Strait of Hormuz. Higher energy and fertiliser prices could increase food prices and broader inflation.
Food inflation rose in Oman and Kuwait in March, while remaining broadly unchanged in Saudi Arabia.
