1. Add the peaches, granulated sugar, brown sugar, butter, cornstarch, lemon juice, vanilla extract, cinnamon, and nutmeg to a saucepan over medium heat. Cook for 6 to 8 minutes, stirring often, until the peaches soften and the filling thickens. Remove from the heat and let it cool completely.

2. Roll out the pie crusts on a lightly floured surface and cut them into equal circles or rectangles.

3. In a small bowl, whisk together the egg and water.

4. Spoon a small amount of cooled peach filling into the center of each dough piece, leaving space around the edges.

5. Brush the edges with egg wash, fold the dough over the filling, and press with a fork to seal.

6. Heat the vegetable oil in a deep skillet or heavy pot to 350°F.

7. Fry the pies in small batches for 2 to 3 minutes per side, until golden brown and crisp.

8. Transfer the pies to a paper towel lined plate and let them cool slightly.

9. Dust with powdered sugar before serving, if desired.