Cape Town - Manchester City manager Manuel Pellegrini insists the Premier League title race is far from over, despite dropping five points off the top of the standings following defeat against Arsenal on Sunday. The Gunners secured their first win at the Etihad Stadium in over four years as Santi Cazorla and Olivier Giroud scored in either half to earn a 2-0 victory over the reigning champions.The result left City trailing Chelsea at the summit ahead of their mouth-watering clash at Stamford Bridge later this month.According to Football411, the Chilean tactician, though, is refusing to throw in the towel just yet."I don't think that this is finished. Even if we don't win or we draw (against Chelsea later this month), we can continue fighting because in football, you never know."It was a long way to recover the eight points Chelsea had on our team, and now they're five points ahead, it will be a decisive game. We'll try to prepare, try to win the game and try to close that gap again."Arsenal had opened the scoring from the penalty spot after City captain Vincent Kompany was adjudged to have brought down Nacho Monreal in the area, and while not entirely convinced by the decision, Pellegrini feels his side should arguably have still been able to respond."I don't want to talk about the penalty as I think it changed the game, but was not the decisive reason why we lost," the boss said."Before the penalty we have the possession of the ball, we play near their box and they don’t really have any clear chances to score during the whole game."For me, it was not a penalty, but the moment from Kompany that allows him (Monreal) to go to dive was unnecessary."