UPDATE 3-Golf-Casey up to three in world after Wentworth triumph

* Casey wins PGA Championship by one shot

* Fellow Briton Fisher second after 64 (adds more quotes)

By Tony Jimenez

VIRGINIA WATER, England, May 24 (Reuters) - Paul Casey jumped to third in the world rankings after holding off a sparkling final-round charge by fellow Briton Ross Fisher to win the PGA Championship on Sunday.

Casey started the day three strokes clear of the field but local boy Fisher, from nearby Ascot, reeled off eight birdies in a best-of-the-week 64 to set the clubhouse target on 16-under 272 in glorious sunshine at Wentworth.

However, the overnight leader responded with three birdies in the last four holes and showed nerves of steel to sink a four-foot putt at the 18th to secure his third victory of the year with a closing 68 and a 271 total.

The 31-year-old Casey, who also won in Abu Dhabi in January and Houston last month, picked up a cheque for 750,000 euros ($1.05 million).

"That was not an easy putt (at the last) but it went right in the middle of the hole," he told BBC television.

"The BMW PGA Championship is our flagship event on the European Tour and I've always wanted to get my hands on this trophy. This feels fantastic."