City are four points behind the Reds with 15 games to play - a huge turnaround from the five-point lead they held in early December.
And Pep Guardiola's side are on track to get the most points in a league season but not the win the title - a record set at 89 by Manchester United in the 2011-12 campaign when City won the title on goal difference.
With Liverpool having only lost one league game in the season to date - a 2-1 defeat to City earlier this month - De Bruyne revealed the Reds would deserve the trophy if they finished above a 90-point haul from his team.
"You would just have to take it as it is and say, ‘We had a good season, but someone was better’ and congratulate them," the Belgian midfielder told reporters.
"We try to do the best as possible, but in the end if Liverpool get more points it is because they deserve it.
"Obviously you always want to win it, but if you get a season where you’re runners-up with 90 points, there’s not a lot you can say afterwards.
"There’s always luck involved. If you want to win something, you need luck, you need good form, everybody needs to be on it. It’s a consequence of everything."
Both teams had their fair share of luck during the last matchday with Liverpool being gifted a goal in their 4-3 win over Crystal Palace, while Manchester City's second goal had an element of offside in the 3-0 victory against Huddersfield Town.
De Bruyne, who has only started two Premier League games this season because of injury, was aware City would need Liverpool's luck to run out, having already played the Reds home and away this season, and said the Citizens would just focus on winning their matches.
"We need to do what we can do, try to win as many games as possible. Then we will see what happens," he said.
"There are two teams - and even Tottenham [in third with 51] - who have so many points at this point of the season.
"It’s quite remarkable because in a lot of seasons you would already be 10 or 12 points ahead, but this season is tight. I like it, I like it to be competitive."
The Reds will be more rested, with the next contest not coming until a January 30 home league match against Leicester City.