Price had eight birdies and a bogey to move to 10-under-par 134 for the tournament. He has a one-stroke lead over Padraig Harrington, who shot 67 Friday. Miguel Angel Jimenez (65), Shiv Kapur (66), Nick O'Hern (68) and Alessandro Tadini (66) share third place at eight-under 136.
First-round leader Phillip Archer struggled to a 75 and is four strokes behind Price.
Price, who tapped in a short putt for birdie on No. 18, hasn't owned a second-round lead since the 2004 Heritage.
Harrington is alone in second place at nine-under 135. Last year's Order of Merit winner posted a 31 on the front nine, a 36 on the back and held the clubhouse lead before being passed by Price.