Phelps continues to rip up record books

Swimming : Michael Phelps broke a second world record in 24 hours to collect his third gold medal at the world swimming championships…

Swimming: Michael Phelps broke a second world record in 24 hours to collect his third gold medal at the world swimming championships in Melbourne.

The American won the 200 metres butterfly final in a time of one minute 52.09 seconds to wipe a massive 1.62 off the previous record of 1:53.71 which he set in Columbia, Missouri last month.

"I surprised myself, I went so fast," Phelps said in a poolside interview. "It was obviously fun, you saw the expression on my face, I was shocked. To do 1.52 is just incredible."

Wu Peng finished second, more than two body lengths behind Phelps, to provide China with their first medal in swimming at these championships, and Russian Nikolay Skvortsov was third.

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"He (Phelps) is simply way too fast, way too fast," Wu said. "I couldn't see him and all I could see was Russia's Nikolay Skvortsov."

Phelps, 21, is chasing an unprecedented eight world titles in Melbourne, including five individual titles, and has won his first three events.

He collected his first gold medal in the 4 x 100 freestyle relay on Sunday and added a second when he broke Ian Thorpe's 200 freestyle world record yesterday.

The sport's world governing body Fina is awarding prize money at the world championships for the first time and Phelps is set to be the big winner.

Phelps was back in the pool less than an hour after the butterfly final, winning his semi-final for the 200 individual medley to qualify for tomorrow's final. Phelps also holds the world record for the 200 and 400 medleys.

"I'm showing I'm in solid shape now. I had a really good swim earlier in the season where I broke the world record," he said. "I wanted to take it out tonight, so I'm pretty happy."