Oman Import Prices Rise 11.7% as Mineral Fuel Costs Surge

Oman’s import prices increased 11.7% year on year in the second quarter of 2026, driven by a sharp rise in mineral fuel costs and higher prices across several commodity categories, according to data from the National Centre for Statistics and Information.

The overall import price index rose 2% compared with the first quarter, while the annual increase accelerated from 5.8% in the January to March period, the Oman News Agency reported.

Mineral fuels and related materials recorded the steepest annual increase among the major categories, with prices climbing 45.5%. Animal and vegetable oils, fats and waxes rose 16%, while chemicals and related products increased 11.6%.

Crude materials excluding fuels recorded an 8.3% increase, while manufactured goods classified chiefly by material rose 7.1%.

The figures come amid volatility in international commodity markets and shipping disruptions associated with the conflict in the Middle East. Higher energy prices, freight charges and maritime insurance premiums have added to import costs across the region, although the impact varies according to countries’ exposure to major shipping routes.

On a quarterly basis, mineral fuel prices increased 21.1% in the second quarter, while beverages and tobacco rose 13.8%. Chemicals and manufactured goods classified chiefly by material each recorded increases of 12.5%. Prices of animal and vegetable oils, fats and waxes climbed 11.7%.

However, several categories recorded declines compared with the first quarter. Machinery and transport equipment prices fell 12.8%, while crude materials excluding fuels dropped 8.7%. Miscellaneous manufactured articles declined 1%, and prices of food and live animals slipped 0.3%.

The annual figures showed more moderate movements in some categories. Beverages and tobacco prices rose 6.5%, while food and live animals increased 1.1%. Machinery and transport equipment recorded a 1% rise. Miscellaneous manufactured articles were the only category among those listed to register an annual decline, falling 2.9%.

The rise in import prices coincides with wider pressure on global energy and shipping markets. In an April report, the International Monetary Fund highlighted higher maritime insurance premiums and freight costs as vessels faced longer routes because of regional disruptions.

Oman has been less exposed to direct shipping interruptions than some neighbouring economies because its maritime access extends beyond the Strait of Hormuz, according to the IMF. However, the country remains vulnerable to broader increases in commodity prices, freight charges and insurance costs.

The World Bank projected in April that global energy prices would rise 24% in 2026, citing attacks on energy infrastructure and disruption to shipping through the Strait of Hormuz. It warned that higher energy and fertiliser costs could feed into food prices and wider inflation.

The latest Omani figures underline how movements in global energy and commodity markets can affect the cost of imported goods, even when a country has alternative maritime access to key international trade routes.