What kind of love is it when your boyfriend of 4 years has cheated and lied to you about it?

Should I believe him when he says that he loves and respects me, and that cheating was a terrible mistake...Says he cheated b/c he was going through a phase where he was afraid of committment. Didn't want to tell me b/c he was afraid he would hurt me terribly, and he didn't want to do that. He wants to make it up to me by doing everything he can to make me happy. I don't know if I can believe that he "loves and values me" after the betrayal of cheating and the fact that he was able to lie to me and wanted to continue lying to me. I could never imagine lying to him like that, so it's hard to make sense of the fact that he did it to me! Help! I don't know what to do. Is someone who can lie like that, capable of committment and true love?