Scots have been sent a stark warning that the costs of living and other household essentials could soar following Russia's invasion of Ukraine.
The conflict began when Russia launched a full-scale attack on Ukraine early this morning and it is said to have a significant impact on the already rising cost of living.
Experts have warned Scots that the war could see a knock-on effect on the economy across the world - particularly the UK, reports The Mirror.
It comes after families across the country are already struggling to grapple with rising costs across energy prices, household bills and supermarket prices.
One area that is set to significantly rise once again is the cost of petrol and diesel at forecourts across the country, with prices set to soar to £1.70 a litre.
Currently, the average price of a litre of petrol is 147.7p and diesel 151.95p.
The price of petrol has been steadily rising since last year, but it is set to soar to it's highest ever price following a shortage of supplies caused by the conflict.
The Chair of Foreign Affairs Committee Tom Tugendhat has said that the cost of living crisis is set to be further increased as it has been "driven by war", reports Hull Live.
The Conservative MP told the BBC’s Today programme: “The Russian people are still flying using planes with Rolls Royce and General Electric engines.
“The money still needs to be transferred and the cost of transferring that money still has an effect on the Russian Exchequer.
“The decisions made around Europe are absolutely going to shape the way Vladimir Putin sees this because the reality is that if we leave this to stand, if we let this pass, you can forget about petrol at £1.70 a litre, which is where it’s heading now. It will be significantly higher.”
He added: “10% of the world’s wheat is grown in Ukraine and the idea that this year’s going to be a good crop, I’m afraid, is for the birds.
“This is absolutely one of those moments where we’re going to see the cost-of-living crisis driven by war.”
The conflict could also see another increase on household energy bills, mainly gas because Russia provides around 35 per cent of gas in Europe.
It comes after reports of record breaking household bills, with OFGEM confirming that the cost of energy bills across Scotland and the rest of the UK will increase by £693.
Prices are set to continue rising following the Ukraine crisis.
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