Energy prices are set to rise by almost £700 a year for millions of households, as the new price cap on bills will come into affect from Friday.
The new price cap will be in place from April 1, increasing by £693 - or 54 per cent - from £1,277 to £1,971 per year.
Petrol prices have also surged following Russia’s invasion of Ukraine, with petrol at nearly £1.67 a litre and diesel at £1.79, both record highs for the UK.
Inflation has also jumped 6.2 per cent, a 30-year high for the country.
READ MORE: Citizens Advice forecasts more than 70 per cent increase in people unable to pay energy bills
From April 6 this year, some will also see a 1.25 per cent increase in National Insurance contributions.
With prices and taxes increasing, we'd like to hear your thoughts and concerns on the cost of living:
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