Price took a 3-2 lead, but the Green Machine produced a thrilling burst, reeling off four straight legs to win 6-3 with an impressive average of 106.93.
After his bright start, Price faded, averaging 92 and hitting just one 180. Fellow Welshman, Jonny Clayton, went on to win the night, beating Van Gerwen 6-5 in the final.
It has been a difficult few weeks for Price, who has been struggling with a hand injury and then had to pull out of the German Grand Prix last weekend with suspected tonsillitis.
This weekend, he will be taking a break from darts to focus on another of his sporting passions, boxing. On his Instagram story after the defeat to Van Gerwen, Price revealed he would be attending Tyson Fury’s World Heavyweight title defence against Dillian Whyte at Wembley on Saturday.
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