City can win the English premiership for a second time in three seasons, should they accrue four points from their final two games - starting with a hosting of Aston Villa at Etihad Stadium on Wednesday.
The Sky Blues were handed a reprieve of late after Brendan Rodgers' men fell to Chelsea 2-0, and also blew a three-goal lead away at Crystal Palace - giving Pellegrini's men pole position to sew up the silverware.
But the Argentine boss was not getting ahead of himself, stressing Liverpool's shortcomings were the warning City needed to stay focussed.
"It's always a good lesson for everybody," Pellegrini said.
"Nobody knows what can happen in football, that's why it's the most popular sport in the world.
"Maybe Liverpool had a sense of trust. They were winning 3-0 but, in three balls, the score changed.
"It's not only a lesson for the moment - in football, it's always the same.
"But we have experienced players. They (City) were in a similar situation two years ago.
"We have the pressure to win, but we have had that pressure all year. This team wants to win the title and we will try until the end."
Despite their last two games being played in the comfort of their Eastlands surrounds, Pellegrini said their home-ground advantage was not going to be decisive on its own.
"The games are not the same," he said.
"The whole squad is in another moment. We played against Sunderland three days after the defeat against Liverpool.
"But, at this moment, I think the trust of this squad is different. We're not just thinking that, because we're playing at home, we'll win the match. We need to play very well to win this game.
"If I try to be calm, it is because I think this is the best thing for the players for these two games. But it's not easy."
