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Gas Prices Rise Sharply; Bush to Tap Reserves

The effects of Hurricane Katrina could be seen at gasoline pumps around the nation Wednesday. The price of a gallon of unleaded gas climbed another 17 cents on the spot markets and gasoline shot up to more than $3 per gallon in many parts of the country.

The Bush administration says it will open the nation's strategic petroleum reserve and suspend some air quality regulations to help address the problem.

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