The visitors are sixth in the table, currently occupying the last available playoff position, while the hosts are in 10th place.
Match preview
Shrewsbury have had a very strong season, but their chances of making a late push for the top six are fading, after winning just one of their last five League One games, losing their last two.
As it stands, the Shrews are nine points behind Peterborough with a game in hand, meaning there is still a very remote chance they could reach the playoffs, but they would have to go on a near-perfect run between now and the end of the season.
Salop's task will be made even more difficult by the fact they still have Barnsley, Plymouth Argyle and Sheffield Wednesday left to play, three of the teams that make up the current top four, so a mid-table finish is far more likely.
Steve Cotterill's side went on a fantastic run starting back in January, winning six League One games on the spin, but they have become far more inconsistent as of late, and they put in a particularly disappointing performance last time out.
Shrewsbury were defeated 6-0 by Charlton Athletic at the Valley, and they are now without a win on their travels since the beginning of February, so they will be glad to be back on home soil on Friday afternoon.
However, Salop's task will be far from easy, as Peterborough have really started to perform at the crucial stage of the season, picking up 13 points in their last six League One matches.
The Posh have been prolific in front of goal all season, scoring 65 in 39 games, and they have continued to impress in the opposition third in recent weeks, putting five past Burton Albion while also winning 3-0 away at Lincoln City.
Darren Ferguson's side have conceded more than any other side in the top nine, but they have started to shore things up at the back recently, keeping clean sheets in their last three games.
That said, the result in the last match was not what Peterborough would have been hoping for, drawing 0-0 at home against Oxford United in a game where very few chances were created by either side, with just four shots on target in the whole match.
In order to get anything out of Friday's game, the Posh will need to improve on their terrible recent record at Montgomery Waters Meadow, failing to win in their last six trips to Shropshire, and losing their last three.
Shrewsbury Town League One form:
W
D
L
W
L
L
Peterborough United League One form:
W
L
W
W
W
D
Team News
After their terrible performance last weekend, Cotterill may choose to freshen things up for Shrewsbury, with Ryan Bowman being brought in at striker, replacing Christian Saydee.
One change the manager will be forced into is replacing Tom Flanagan, as the centre-back was sent off in the last match, meaning Kade Craig could be in line to make a first league start for the Shrews, having been on the bench for the last four games.
Tom Bayliss will continue to miss out, having damaged his ankle ligaments in the 3-1 win against Morecambe last month, so Killian Phillips is expected to continue in an advanced midfield role.
Some changes in attack may be in the offing for Peterborough, given their poor showing in front of goal last weekend, and Kabongo Tshimanga could come into the team, replacing Harrison Burrows.
Jonson Clarke-Harris is a sure-fire starter at striker, having scored 22 League One goals this season, the highest amount of any player in the third tier.
Shrewsbury Town possible starting lineup:
Marosi; Craig, Dunkley, Pennington; Moore, Winchester, Shipley, Leahy, Phillips; Street, Saydee
Peterborough United possible starting lineup:
Norris; Thompson, Kent, Edwards, Ogbeta; Ward, Norburn, Taylor, Mason-Clark; Clarke-Harris, Tshimanga
We say: Shrewsbury Town 1-1 Peterborough United
Peterborough have a terrible recent record away at Shrewsbury, and they struggled to create much of anything last time out against Oxford, so we expect them to draw for the second game on the spin.
The Shrews will be looking to bounce back from a very disappointing 6-0 defeat against Charlton last weekend, and for the most part they have been a much better side at home, going unbeaten at Montgomery Waters Meadow since New Year's Day.