Filling: Combine all ingredients except almond extract and peaches in saucepan and bring to boil. Add peaches and cook until peaches heated through (approx. 5 minutes). Add almond extract.
CRUST: Sift together flour and baking powder. Sprinkle on oil and mix with fork until a crumbly texture. Add milk and work into a smooth ball. Roll out 2/3 of dough between 2 sheets of wax paper into a circle for base of pie. Fold in half and place in ungreased pie plate; unfold and gently pat to fill pie plate. Fill pie with peach filling. Roll out remaining 1/3 of dough for top crust. Pour filling into pie shell. Cut rolled dough into strips and place in a lattice pattern on top of filling. Brush with milk and sprinkle with sugar.
Bake at 400 degrees for 15-17 minutes until bubbly and crust lightly browned.
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