Elected to the colony's Legislative Council in 1954, he also served as mayor of Belize City from 1956 to 1962. As First Minister, a post he held since 1961, he led the team which began negotiations over independence with Great Britain. He maintained that post as premier in 1964.
In 1981 Belize gained its independence, and Price served as the country's first prime minister and foreign minister until 1984. Defeated in the elections by Manuel Esquivel, he resumed the post of prime minister in 1989, serving until 1991, when he was again replaced by Esquivel. In September 2000, Price became the first person to receive Belize's highest honor, the Order of National Hero, for the prominent role he played in leading his country to independence.