It was a fitting climax to a dramatic fourth day of darts at the PDC's Autumn Series, which looked set to belong to the revitalised African Warrior after he incredibly whitewashed Michael van Gerwen 6-0 in the third round with an average of 101.3 compared to his opponent's 90.5.
This just came 24 hours after the world number one shunned crisis talk amongst darts fans and pundits by bounced back to trophy-winning form in Niedernhausen before proclaiming: "I'm still the boss". A reminder, perhaps, that knee-jerk reactions of any kind are ill-advised in all sports.
Petersen, who'd earlier beaten Robert Thornton (6-2) and Joe Murnan (6-5), followed this up with a 6-3 victory over Jermaine Wattimena before raising the bar even higher when recording a 110 average during a 6-2 triumph over Premier League play-off qualifier Nathan Aspinall.
The 34-year-old next faced his close friend and Sunday's runner-up Joe Cullen as he strived to become the first African to reach a PDC final.
Despite agonisingly missed match darts in both of his previous semi-finals against Price at the Summer Series and Madars Razma as recently as Saturday, Petersen stood up to the pressure and achieved a landmark 7-2 victory with a 96 average.
He subsequently stood up to the challenge of Price - and more - in his maiden final and stormed into a 7-4 lead thanks to seven 180s and clinical finishing.
However, he missed his first title dart at double 16 in the 13th leg as the two-time Grand Slam of Darts champion returned to take out 78, before spurning three at tops in the next.
"When he got to seven legs I just thought to keep digging in and if he missed chances I've got to pop them, and that's what happened. It was tough
"The first three days I've been losing with high averages, today I didn't play so well but I won."
Price recently narrowly missed out on the Unibet Premier League Play-Offs on the final night of action.
"I wanted to get into the Play-Offs of the Premier League but that didn't happen," he added. "It's been tough playing all those Premier League nights followed by another five tournaments here but I'm enjoying it."
Last 16
Quarter-Finals
Semi-Finals
Final