Money advice expert Martin Lewis has issued his advice as to whether people should stick to variable rate tariffs as energy prices soared "horrendously" due to the Ukraine crisis.
Ukrainians in Nottinghamshire have been protesting and speaking out over the past few days after Russia invaded the eastern European country, leaving countless people dead.
President Vladimir Putin launched a 'full scale invasion' of Ukraine on Thursday, February 24, a move described as a "dark day" for Europe as thousands of innocent people were left displaced and fearing for their lives.
The impact of the invasion is being felt across the world in other ways, too, with economies hit and energy prices soaring, according to ExaminerLive.
Price caps in Britain had already increased, prompting concern, and there are fears prices could only go higher.
As a result Martin Lewis issued new advice on his show as gas prices jumped by another 40%.
Mr Lewis says: "Look first of all this is a horrible situation in Ukraine and energy is secondary.
"But if I answer the honest question, energy prices have spiked horrendously today, if they stayed at that level then in October we'd see another 50% rise in the price cap bringing the typical bills to £3,000 a year.
"But we don't know that that spike will continue. I've said before that if you can find a cap within 60% of the current price cap (in terms of a rise), it's probably worth it.
"Back of the envelope? It's probably about 80% now if you really want piece of mind and surety. But until April we're on a cheap rate and from April we're on a cheaper rate than any fixes, so it's a gamble, I don't know and I can't tell you the right answer but within 80% wouldn't be the worst bet."
