Oman experienced an 11.7 percent increase in import prices in the second quarter of 2026 compared to the same period last year, driven primarily by a sharp rise in mineral fuel costs, official data showed. The overall import price index climbed 2 percent from the first quarter, marking an acceleration from the 5.8 percent year-on-year increase recorded in January through March.

The National Centre for Statistics and Information, which compiled the data, reported that mineral fuel costs surged 45.5 percent year on year. Other commodity groups also contributed to rising import costs. Prices for animal and vegetable oils, fats, and waxes rose by 16 percent, while chemicals and related products increased by 11.6 percent. Crude materials excluding fuels edged up 8.3 percent, and manufactured goods mainly classified by material gained 7.1 percent.

Quarterly figures showed a 21.1 percent rise in prices for mineral fuels and related materials, while beverages and tobacco increased by 13.8 percent. Chemicals and manufactured goods classified mainly by material each rose 12.5 percent, and animal and vegetable oils, fats, and waxes saw an 11.7 percent increase. Conversely, prices for machinery and transport equipment fell 12.8 percent, crude materials excluding fuels declined 8.7 percent, miscellaneous manufactured articles decreased 1 percent, and food and live animals dropped 0.3 percent.

Year-on-year comparisons showed beverages and tobacco prices up 6.5 percent, food and live animals rising slightly by 1.1 percent, and machinery and transport equipment increasing by 1 percent. Miscellaneous manufactured articles declined by 2.9 percent.

The uptick in import costs coincides with ongoing volatility in global commodity markets and disruptions to regional shipping linked to the conflict in the Middle East. The International Monetary Fund (IMF) noted in April that higher maritime insurance premiums and freight costs have resulted as vessels take longer routes to avoid conflict zones. Oman’s maritime access, which extends beyond the Strait of Hormuz, reduces its exposure to direct shipping disruptions, according to the IMF, but the country remains vulnerable to broader increases in freight, insurance, and commodity prices.

Additionally, the World Bank projected in April that global energy prices would rise by 24 percent in 2026, citing attacks on energy infrastructure and continued shipping disruptions in the Strait of Hormuz. The bank warned that rising energy and fertilizer prices could lead to higher food costs and contribute to broader inflationary pressures in import-dependent economies such as Oman.