Petroleo Brasileiro S.A. - Petrobras (PBR)

[Timothy Smith]

Petrobras (NYSE:PBR) +10% premarket after announcing it will raise prices for gasoline by 6% and diesel by 4% at refineries in Brazil, the first increase since last November and the first under CEO Aldemir Bendine.

The increase should add 6.9B reais ($1.7B) to annual EBITDA and help ease fears that the effect of a weak currency on the company’s cash flow generation could further damage an already weak financial situation, BofA analysts say.

Any change to prices at the pump is still unclear, as they are set by the gas station owners.