Recent slip-ups by the Londoners have seen them get thrashed at Chelsea 6-0, before drawing 2-2 at home with Swansea City, and Pellegrini believes his side can completely kill off Arsene Wenger's ambitions of breaking the club's recent league drought.
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"It is an important difference. Six points is also an important difference.
"It is a match of six points but it is not the last match and not the match that will decide the title.
"It is a huge step to continue in the way we are doing so far. Yes, of course it is a big game because it is against a team that is fighting for the title also."
Arsenal are only six points off top side Chelsea, but with the caveat that City - three points adrift of the Blues in third - have two games in hand.
A portion of Pellegrini's squad were involved in City's thrilling league win in 2012, and the Chilean believes the combined experience of Sergio Aguero, David Silva, Yaya Toure, Joe Hart and Edin Dzeko will help their cause in the run-in.
"It's important to have the experience to win titles. A lot of things can help but the most important thing is the performance of the players in the last few games," he said.
"This is a different moment, there are different players. The most important thing is the present, the next game.
"To play in the same way we did (against Manchester United) in the next game."