1. Stir together flour, sugar, baking powder and salt. Set aside.
2. In large mixing bowl, combine Kellogg’s Raisin Bran® cereal and milk. Let stand 3 minutes or until cereal softens. Add egg, oil and peanut butter. Beat well. Add flour mixture, stirring only until combined. Portion batter evenly into twelve 2 1/2-inch muffin-pan cups coated with cooking spray. Make a deep indentation in top of batter of each muffin. Fill each indentation with teaspoon of jelly.
3. Bake at 400°F about 18 minutes or until golden brown. Serve warm.