The Posh, who have not won in six games and crashed out of the FA Cup to non-league Kidderminster Harriers, will look to arrest their slump and get back in the promotion places
The Posh made a sensational start to the season, winning 10 of their first 12 matches - form that saw them made favourites for promotion and an immediate return to the Championship.
But the wheels have fallen off at London Road since, and a particularly bad spell - in which they have not won in six matches in all competitions, including four successive league defeats - has seen manager Darren Ferguson come under pressure.
Peterborough's nadir may have come on Tuesday, as they were knocked out of the FA Cup by non-league Kidderminster Harriers in a third-round replay.
The League One side took the lead but were stunned by second-half strikes from Michael Gash, Jack Byrne and Joe Lolley as they slumped to a 3-2 home defeat.
The result saw Peterborough miss out on a money-spinning FA Cup visit to Premier League side Sunderland in the fourth round.
Feguson's men, who lie seventh in the table, should still have enough to beat the 20th-placed Tranmere, though, who are just one point above the relegation zone.
Ronnie Moore's side have won just two of their last nine matches but of their six League One victories this season, four have come on the road.
Peterborough have already beaten Tranmere 5-0 twice this season, with one meeting coming in the league and one in the FA Cup. Striker Britt Assombalonga has netted four goals in those two victories.
Table-toppers Brentford have won their last eight league matches, and have taken 40 points from their last 14 fixtures, meaning they are heavy favourites to win at sixth-placed Walsall on Saturday.
Brentford are one point ahead of Leyton Orient, who go to relegation-threatened Crewe Alexandra, while Wolves - three points adrift of the leaders - are also on the road, at Crawley Town.
Fourth-placed Preston North End will be buoyed by an FA Cup replay win against Ipswich Town as they host Coventry City at Deepdale.
Rotherham United visit struggling Shrewsbury Town, while Swindon Town - stunned by rock-bottom Stevenage on Tuesday - will seek a response against Gillingham.
Bristol City remain in relegation trouble, sitting second-bottom, and host Milton Keynes Dons, while successive league wins have lifted Notts County to 21st with Shaun Derry's men travelling to Stevenage this weekend.
Other fixtures on Saturday see Port Vale tackle Oldham Athletic and Carlisle United meet Colchester United, while Sheffield United and Bradford City do battle in a Yorkshire derby at Bramall Lane.