Pellegrini aims to make it nine points out of nine at the end of a crucial week. City go to the Emirates for the Saturday evening kick off on the back of a 3-0 derby win over Manchester United.
Asked on Friday if he thought City would put Arsenal out of the race if they beat them on Saturday, Pellegrini said: "It will be difficult for them of course.
"It is difficult for them because they have three teams in front of them at the top of the table. But in football, the mathematics give you a chance.
"Maybe they didn’t play well or have the results they needed in the last two matches.
"But I think that all the teams will drop points also from now until the end of the season, so I continue thinking that Arsenal have a lot of chances to fight for the title.”
Pellegrini also spoke of his happiness at the club. "I’m very happy here,” he said.
"Very settled. I don’t have any problems here in Manchester. I’m very happy with the people I work with - so in the future we will see, at the right moment.”