The White House isn’t panicking about oil prices. That may change in a few weeks.

The administration believes it has three to four weeks “where they can ride out what they need to” before oil prices become a more durable political problem, according to one person close to the White House.

Illustration by Claudine Hellmuth/POLITICO (source images via iStock)

The Trump administration believes it can withstand a brief spike in oil prices — for as many as four weeks, as one person close to the White House suggested — before the political hit does lasting damage.

Administration officials’ confidence was bolstered Tuesday when oil dropped to $80 per barrel, down from $120 this weekend, reinforcing their view that the spikes are temporary and manageable.

They have three to four weeks “where they can ride out what they need to” before oil prices become a more durable political problem, said the person close to the White House, who like others in this story was granted anonymity to share details of private conversations.

© Politico