Price survived four match darts from the first time finalist who finally broke his duck of semi-finals after showing some absolutely incredible form.
He showed it again in the final and went 7-4 up only for the finishing line to be the difference as he was cruelly denied in Niedernhausen.
Petersen claimed first blood on his own throw firing in 180 and his trusty double eight. He hit a second 180 but this only pressured Price who himself finished on double eight to make it 1-1.
He held his throw picking out double 16 making Price uncomfortable in the early junctures with a 115 average.
Petersen was given a chance to extend his lead with a 96 after a miss from Price but he missed double nine. 'The Iceman' got away with it hitting double seven to level it up.
A 46 checkout saw him wrestle back that lead at 3-2. Another 180 saw Petersen down towards a break opportunity leaving 76. He was pressured with 100 left by Price but he pinned double two to break throw.
He looked to continue his momentum smashing in two 180's in a row to leave 141. He couldn't find a seventh perfect dart but the South African was looking good.
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Second time around, he pinned double two again to make it 5-2. Price pinned double five with relief on his face to make it 5-3.
Price left double 15 to break and ask the question but couldn't find it and Petersen pinned double 16 to go two away.
Petersen missed the bull for a 130 checkout and Price kept it interesting at 6-4 down. Another 180 saw the former down to a finish first on his throw.
He left 20 and despite a dart falling out, he pinned double 10 to go one away. A 68 checkout saw Price hold throw and it was all up to Petersen.
He had six at 150 and left 64 to win but missed a match dart. Price had 78 to break throw and extend it.
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Price missed a dart at bull for 90, this left Petersen three at double 20 which he missed which allowed the former to pin 25 to force sudden death.
Price had an excellent leg including a 180 and pinned double 10 to claim victory from the jaws of defeat.
Click here for more information about the PDC Autumn Series, including the prize fund breakdown.
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🏴🏆 PRICE WINS ON DAY FOUR 🏆🏴
From 7-4 down, Gerwyn Price survives four match darts and comes back to win the deciding leg and he swoops £10,000 on Day Four of the PDC Autumn Series!