During this season, Peterson finished second four times in Monaco, Great Britain, Italy, and Canada.

Peterson finished second in the Drivers' World Championship behind Jackie Stewart and ahead of François Cevert.

The best result obtained was the fifth place in Belgium which allowed him to score 3 points and to rank eighteenth in the world championship ahead of Tim Schenken and behind Andrea de Adamich.

Speed International gave a chassis to Ray Allen at the British Grand Prix but the car was unavailable.

Finally, Skip Barber drove for Gene Mason Racing in the United States and Canadian Grand Prix.