Elgin's slim play-off hopes faded further after Stranraer claimed maximum points in a topsy-turvy clash.
Gregory Tade scored for the visitors when Ally Ridgers fumbled a cross but Mark Nicholson's long-range shot crept in under Scott Black to level things.
Zander Sutherland headed home for Elgin but Stranraer broke away after the home side had hit the post and substitute Jamie Cochrane tapped in.
Andrew Gibson's 22-yard effort flew in for the winning goal on 87 minutes.
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