diff --git a/cluster-autoscaler/cloudprovider/alicloud/alicloud_manager_test.go b/cluster-autoscaler/cloudprovider/alicloud/alicloud_manager_test.go
index 5f15427d2109..fe5c06141394 100644
--- a/cluster-autoscaler/cloudprovider/alicloud/alicloud_manager_test.go
+++ b/cluster-autoscaler/cloudprovider/alicloud/alicloud_manager_test.go
@@ -36,7 +36,7 @@ func TestBuildGenericLabels(t *testing.T) {
 	}
 	nodeName := "virtual-node"
 	labels := buildGenericLabels(template, nodeName)
-	assert.Equal(t, labels[apiv1.LabelInstanceType], template.InstanceType.instanceTypeID)
+	assert.Equal(t, labels[apiv1.LabelInstanceTypeStable], template.InstanceType.instanceTypeID)
 }
 
 func TestExtractLabelsFromAsg(t *testing.T) {
diff --git a/cluster-autoscaler/cloudprovider/aws/aws_manager_test.go b/cluster-autoscaler/cloudprovider/aws/aws_manager_test.go
index 8b70f534ddfd..722b70a60132 100644
--- a/cluster-autoscaler/cloudprovider/aws/aws_manager_test.go
+++ b/cluster-autoscaler/cloudprovider/aws/aws_manager_test.go
@@ -80,9 +80,9 @@ func TestBuildGenericLabels(t *testing.T) {
 		},
 		Region: "us-east-1",
 	}, "sillyname")
-	assert.Equal(t, "us-east-1", labels[apiv1.LabelZoneRegion])
+	assert.Equal(t, "us-east-1", labels[apiv1.LabelZoneRegionStable])
 	assert.Equal(t, "sillyname", labels[apiv1.LabelHostname])
-	assert.Equal(t, "c4.large", labels[apiv1.LabelInstanceType])
+	assert.Equal(t, "c4.large", labels[apiv1.LabelInstanceTypeStable])
 	assert.Equal(t, cloudprovider.DefaultArch, labels[apiv1.LabelArchStable])
 	assert.Equal(t, cloudprovider.DefaultOS, labels[apiv1.LabelOSStable])
 }
diff --git a/cluster-autoscaler/cloudprovider/gce/gce_price_model.go b/cluster-autoscaler/cloudprovider/gce/gce_price_model.go
index a6b01ff2d531..da6e711ad6eb 100644
--- a/cluster-autoscaler/cloudprovider/gce/gce_price_model.go
+++ b/cluster-autoscaler/cloudprovider/gce/gce_price_model.go
@@ -348,7 +348,7 @@ func (model *GcePriceModel) NodePrice(node *apiv1.Node, startTime time.Time, end
 	// Base instance price
 	if node.Labels != nil {
 		isPreemptible = node.Labels[preemptibleLabel] == "true"
-		if machineType, found := node.Labels[apiv1.LabelInstanceType]; found {
+		if machineType, found := getInstanceTypeFromLabels(node.Labels); found {
 			priceMapToUse := instancePrices
 			if isPreemptible {
 				priceMapToUse = preemptiblePrices
@@ -362,8 +362,10 @@ func (model *GcePriceModel) NodePrice(node *apiv1.Node, startTime time.Time, end
 		}
 	}
 	if !basePriceFound {
-		price = getBasePrice(node.Status.Capacity, node.Labels[apiv1.LabelInstanceType], startTime, endTime)
-		price = price * getPreemptibleDiscount(node)
+		if machineType, found := getInstanceTypeFromLabels(node.Labels); found {
+			price = getBasePrice(node.Status.Capacity, machineType, startTime, endTime)
+			price = price * getPreemptibleDiscount(node)
+		}
 	}
 
 	// GPUs
@@ -407,7 +409,10 @@ func getPreemptibleDiscount(node *apiv1.Node) float64 {
 	if node.Labels[preemptibleLabel] != "true" {
 		return 1.0
 	}
-	instanceType := node.Labels[apiv1.LabelInstanceType]
+	instanceType, found := getInstanceTypeFromLabels(node.Labels)
+	if !found {
+		return 1.0
+	}
 	instanceFamily := getInstanceFamily(instanceType)
 
 	discountMap := predefinedPreemptibleDiscount
@@ -476,3 +481,11 @@ func getAdditionalPrice(resources apiv1.ResourceList, startTime time.Time, endTi
 	price += float64(gpu.MilliValue()) / 1000.0 * gpuPricePerHour * hours
 	return price
 }
+
+func getInstanceTypeFromLabels(labels map[string]string) (string, bool) {
+	machineType, found := labels[apiv1.LabelInstanceTypeStable]
+	if !found {
+		machineType, found = labels[apiv1.LabelInstanceType]
+	}
+	return machineType, found
+}
diff --git a/cluster-autoscaler/cloudprovider/gce/templates_test.go b/cluster-autoscaler/cloudprovider/gce/templates_test.go
index 8ff261068316..7963a5475725 100644
--- a/cluster-autoscaler/cloudprovider/gce/templates_test.go
+++ b/cluster-autoscaler/cloudprovider/gce/templates_test.go
@@ -226,13 +226,13 @@ func TestBuildGenericLabels(t *testing.T) {
 	for _, tc := range testCases {
 		t.Run(tc.name, func(t *testing.T) {
 			expectedLabels := map[string]string{
-				apiv1.LabelTopologyRegion:          "us-central1",
-				apiv1.LabelTopologyZone:       	    "us-central1-b",
-				gceCSITopologyKeyZone:              "us-central1-b",
-				apiv1.LabelHostname:                "sillyname",
-				apiv1.LabelInstanceTypeStable:      "n1-standard-8",
-				apiv1.LabelArchStable:              cloudprovider.DefaultArch,
-				apiv1.LabelOSStable:                tc.expectedOsLabel,
+				apiv1.LabelTopologyRegion:     "us-central1",
+				apiv1.LabelTopologyZone:       "us-central1-b",
+				gceCSITopologyKeyZone:         "us-central1-b",
+				apiv1.LabelHostname:           "sillyname",
+				apiv1.LabelInstanceTypeStable: "n1-standard-8",
+				apiv1.LabelArchStable:         cloudprovider.DefaultArch,
+				apiv1.LabelOSStable:           tc.expectedOsLabel,
 			}
 			labels, err := BuildGenericLabels(GceRef{
 				Name:    "kubernetes-minion-group",