MANILA -- Matters concerning the snowballing effects of price cap on fuel products will be one of the highlights of the Cabinet meeting in Bohol Tuesday afternoon.

Press Undersecretary Anthony Golez said Energy Secretary Angelo Reyes and Justice Secretary Agnes Devanadera are both in the meeting with President Gloria Macapagal-Arroyo to discuss the result of their recent meeting with oil industry players.

Reyes on Monday disclosed the warning of oil companies that the country’s inventory of finished petroleum products would run out in eight to 13 days.

Devanadera refuted the statement of Reyes, saying the oil inventory issue was not even brought up in the meeting.

Golez said these counter statements from the two department heads are also expected to be resolved in the meeting.

Since October 24, prices of pump prices have been frozen in all of Luzon due to the implementation of Executive Order (EO) 839. It levels fuel prices to October 15 rate, supposedly to avert putting another burden on victims of recent calamities.

Oil companies have been relentlessly requesting the lifting of the order, saying they are selling fuel products at a loss and threatening oil shortage.

Golez said other matters to be discussed in the meeting are the updates about relief, recovery, rehabilitation, and disaster management currently undertaken by the National Disaster Coordinating Council.

He also said there will be an update on the works done by the joint public and private reconstruction committee. (Jill Beltran/Sunnex)