Manager Darren Ferguson hailed ice-cool substitute Grant McCann as Posh overcame the big freeze to pocket an important point in the battle against relegation.
McCann tucked away a 79th minute spot-kick to earn Posh a 1-1 draw against promotion-chasing Hull at London Road.
In the process he spared the blushes of young team-mate Joe Newell who had swiped a Robert Koren corner into his own net to hand the visitors the lead.
Posh boss Ferguson said: "A point was the least we deserved and I wouldn't have been surprised if we had gone on to win after getting ourselves level.
"It was harsh on us to fall behind to a mistake from young Joe, but he is a lad with an excellent temperament and didn't let if affect him.
"The most pleasing thing was seeing our substitutes come on and change the game. Grant in particular upped our tempo, got hold of the ball and tucked away the penalty."
Hull boss Steve Bruce was happy to head back north in possession of a share of the spoils.
Bruce said: "You're always disappointed to be pegged back in the final few minutes of a match, but in all truth I don't think we deserved anything more than a point.
"We gave away a soft penalty which I have absolutely no complaints about, but I can't be too disappointed to be sat third in the league with only goal difference keeping us out of the automatic promotion places.
"While we have to praise the many fans who helped to clear the pitch of snow in the morning and the hundreds that made the journey down from Hull to support us, the game itself wasn't much of a spectacle."