His parents moved to Plas-y-Brithdir when Thomas Price opened a business selling flour in Dolgellau. For a short time before leaving to help his father, Peter Price was educated at Dolgellau Grammar School, the headmaster of which at the time was S.S.O. Morris, a Cambridge scholar. He began to preach at Tabor in 1881. He became a student at University College, Aberystwyth and studied philosophy under Thomas Charles Edwards (DWB, 197-8). He left in 1885, but in the autumn of the same year, he was at Bangor, at the University College, where he gained his matriculation certificate and a scholarship of £10. He left the college in 1887, in the middle of his degree course, to become the minister at Ebeneser, Trefriw and he was ordained there on 14 and 15 Dec 1887. In 1896 he was installed as the minister at the recently founded church at Great Mersey Street, Liverpool. He was accepted at Cambridge University (without affiliation to any college) in October 1897 and within a year he had enrolled at King's College Cambridge, where he graduated with honours in philosophy in 1901. He received the degree of M.A. in 1939. He took up his ministry again in 1901. He married Letitia Williams, Tŷ Gwyn, Llanrwst in January 1902.

He moved to Bethania, Dowlais in the summer of 1904, a church with over 600 members, where the musician Harry Evans (DWB, 235-6) was the organist. The Revival of 1904 was exciting the country by this time. The revivalist Evan Roberts (see above) visited Bethania. Peter Price was disturbed and, in a somewhat long and pretentious letter in the Western Mail on 31 Jan. 1905, he ventured to criticise the Revival and especially Evan Roberts's methods. Thereafter, in the religious history of Wales, Peter Price's name was associated with this protest and the agitation which followed it. In October 1910 he was installed as minister at Bethlehem, Rhosllannerchrugog. He spent 10 industrious years there organising various educational courses and addressing political meetings. One of his most zealous supporters was Dr Caradog Roberts (DWB, 860). He went to the USA in 1913 and shortly afterwards received the honorary D.D. from the University of Washington. He moved to minister at Baker Street, Aberystwyth, in November 1920 and generations of students of the University College there were unceasing in their praise of the extent and beneficial effect of his influence on their lives. He retired in 1928, owing to the ill health of both his wife and himself. They set up home in Swansea, Llanfairfechan and Prestatyn where he died on 1 July 1940; he was buried in Prestatyn cemetery.

Peter Price was a strong man with powerful opinions and passionate feelings, who was revered by his admirers but who also made enemies easily; a powerful preacher and an influential minister; a pacifist and an original character. He published two pamphlets, Tarian yr ynfyd (Defence and delusion), 1936, Y Fuddugoliaeth ddiarf (from Y Dysgedydd), 1937,