BUZZ-Petrobras: Raises fuel prices; analysts say insufficient

viernes 7 de noviembre de 2014 10:26 GYT

** Brazilian state oil company's shares down 3.7 pct at $10.33 before the bell

** Raises wholesale prices of gasoline and diesel for first time in over 11 months

** However, analysts consider the increase insufficient to make up for recent losses in Petrobras' refining division

** Refining division has lost more than $24 million since end of 2010, mainly because government had refused to let company increase prices

** Up to Thursday's close, stock had lost 37 pct in 12 months