I was looking at my peach tree this morning and noticed these oozes along the main trunk (nothing higher than the first split). I've previously (2 years ago) had oriental fruit moths, and managed to control them last year with Bonide. Because of the rain we've had this spring, I didn't get a "pre-flower" spray on, and only got the "post-flower" spray on all the leafy areas of the tree. I know that I did not spray the trunk (which may be why I'm not seeing these above that split).

Basically, I'm trying to verify if the problem I have this year is a Peach Tree Borer, and if I, at this point, apply Bonide to the trunk, will that resolve the issue.

CC00:
It does look like PTB. Some publications suggest using a stiff wire and inserting it into the weeping spot and try to impale, thus killing the larvae. I have tried this and don't think I was successful in most cases. You can try making an incision at the areas and try to find and extract the larvae and then cover the wound.
I have lost trees in the past that became infested but some have recovered.
Those larvae you have are most likely from last year. Bonide is a brand and not an insecticide but if you are referring to their Permethrin product, it may or may not be as effective as other products on this insect. I currently alternate between a chlorpyrifos product and an endosulfan product that I spray on the trunk and lower scaffold limbs. Both are still labeled in TX but are probably restricted use pesticides and only available to certified pesticide applicators. This is primarily after harvest as in my area the PTB is most actively laying eggs in the June-Sept period. I try to apply every 14 days.

I'll give the dig/poke a try.

For covering the wound, what should I use?

And my bad on the Bonide, it's specifically the Bonide Fruit Tree Spray. The label does call out "lesser peach tree borer".

Would I want to spray the trunk down now as well (before/after dig/poke/cut)?

I'd dig first and spray later in order to minimize your exposure. After peeling the bark back to look for the larvae, try to fold it back into place. I've used Elmer's glue to hold it together on the outside by smearing it over the cut and then used a wrap like Vet Wrap (an elastic fabric) to wrap the trunk where it was affected. Remove it after a few weeks.
The Bonide product is better than nothing for prevention but the malathion and carbaryl won't stay around long on the trunk. I've avoided carbaryl since creating a spider mite outbreak by trying to control leaf-footed plant bug a few years back but I did spray the entire tree then and not just the trunk.
Good luck. This year looks to be a banner peach and plum year.

I've had these on my peach tree. I cleaned all the crap off, rinsed it with water hose pressure nozzle real good and if below the dirt line, dug the dirt away from around the base to expose the holes. After the water dried, I then sprayed it with the Bonide product you mention. They didn't come back. Haven't had them for 2 years now.