Mark Campbell headed the equaliser at the back post from Kevin Fotheringham's free-kick with just three minutes left as the visitors recovered from last week's home defeat to Cowdenbeath.
Colin Cramb had given Albion the lead after 69 minutes when he raced on to a superb pass from Paul Hay - deputising for the suspended Ross Forsyth - and hammered the ball past keeper Michael Brown.
With Gordon Dalziel having departed Stark's Park on Friday, Raith coach George Gemmell was in temporary charge of the team as Rovers sought their first ever success at Forthbank.
Neither side looked capable of winning in a dreary first half of little incident, although Armand One came close for the visitors, dragging his shot just wide.
Stirling improved after the break and Cramb fired wastefully wide after being put through by Dene Shields, before the ex-Stenhousemuir striker broke the deadlock in 69 minutes.
Albion scorned a great chance to seal victory when Cramb's set-up was short and sub Ian Cashmore's subsequent shot was blocked.
Myles Hogarth made a super stop from Raith's substitute trialist after Hay had cleared an effort off the line, but he had no chance with Campbell's late header.
Stirling then had a penalty appeal turned down when Cramb tumbled in the area as their afternoon ended in frustration.