Russia's invasion of Ukraine has continued this week, with further deaths and damage being caused.

Millions of Ukrainians have fled the country, and there has been scepticism from Ukraine about Russia opening up humanitarian corridors for civilians to escape the conflict into Russia and Belarus.

The economic impact for the outside world has also begun, with drivers having been hit by the steepest weekly hike in fuel prices in at least 18 years.

The average price of a litre of petrol at UK forecourts rose from 149.2p on February 28 to 153.0p on Monday (March 7), according to the Department for Business, Energy and Industrial Strategy (BEIS).

In their programme today, Good Morning Britain detailed a number of ways that the Russia-Ukraine conflict could potentially impact Brits financially.

How could the Russia-Ukraine conflict make Brits financially worse off?

Ranvir Singh went further in on the increase in petrol prices, stating that they could "soar" even more to 175p per litre by next week.

Additionally, household energy bills could rise to £3000 a year due to higher gas and oil prices.

READ MORE - Russia's evacuation corridors for Ukraine are a 'PR stunt', says journalist

Singh said: "There are some experts even warning that interest rates could rise to a whopping 10%, which would mean higher mortgage repayments for about 2.2 million homeowners."

The average cost of food could also be "jumping up" due to rising costs in packaging and transport, whilst oil prices could impact flight costs for those wanting to go on holiday this summer.

Finally, the costs of cars and building materials is another aspect that might go up as Russia is one of the world's largest metal suppliers.