Manager Barry Smith has urged East Fife to use the disappointment of missing out on the play-offs as their driving force for next season.
The Fifers enjoyed an impressive return to League One and went into the final weekend of the season knowing three points – and results elsewhere – could see them with a chance of back-to-back promotions.
Stranraer spoiled the party but Brechin’s point at Ochilview and Airdrie’s win at Hampden meant even victory at Stair Park would not have been enough.
Smith said: “It will be another difficult season next season but hopefully this disappointment stays with them and inspires them on to better things. That is all we will ask of them.
“Along with their performances, I cannot fault them for their work rate and effort since I came in.
“We will just ask them to use the disappointment to spur them on.”
Smith’s men could count themselves incredibly unlucky to take nothing back from the trip south.
Pat Slattery hit the post with a header in the opening five minutes before Chris Duggan’s curling effort deflected wide.
The woodwork again came to the hosts’ rescue four minutes into the second half, with Chris Kane nodding onto the post.
Home defender Morgyn Neill then denied Duggan and Scott Robinson before Stranraer goalkeeper Cameron Belford pulled off a great save down low to deny Robinson.
Then, Stranraer hit them with a sucker punch when Craig Malcolm poked home from close range after fine work by winger Willie Gibson.
To East Fife’s credit, they fought back and Jason Kerr drew them level with an overhead kick from close range.
Smith’s men had to go for it and hope results elsewhere turned in their favour but the play-off challenge was killed off six minutes from time.
Gibson’s shot proved too hot for Mark Hurst to handle and substitute Amadou Kassarate reacted quickest to bundle home the rebound.