WHAT a difference a month makes. Arsenal were eight points clear of the chasing pack in the English Premier League (EPL) just four weeks ago, and looking certain to gallop to the finish line and claim a first league championship since 2004.

But Manchester City – champions in four of the last five seasons – have once again showed they are the force to be reckoned with in England. Having chipped away at the Gunners’ lead in recent weeks, the Citizens thumped Arsenal 3-1 on Wednesday to leapfrog them into first place in the table.

City are on top by virtue of a superior goal difference, but Arsenal have played one match fewer. With 16 games to go and up to 48 points still up for grabs, it looks likely that this season’s title race will go down to the wire.

Ahead of this weekend’s fixtures, here’s a closer look at what’s at stake for the top three teams in the standings.

Defending champions hitting top form

Results-wise, it’s not been the smoothest of seasons for City. There were away defeats to Liverpool, Tottenham and Manchester United, a home loss to Brentford and a surprise exit in the Carabao Cup quarter-finals at the hands of Southampton. 

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These wobbles were far too many for manager Pep Guardiola’s liking, with many fans and pundits questioning his team’s lack of hunger and determination to retain their crown.

But lest anyone forget, this star-studded City side are serial winners. When they are on song, they can take apart any opponent with ease. That impressive win over Arsenal in midweek – City’s 11th in a row over the Gunners – delivered a statement of intent that it will take a Herculean effort to wrestle the trophy from their grasp.

Erling Haaland netted his 26th league goal of the campaign against Arsenal, and the Norwegian sharpshooter is a shoo-in to claim the EPL’s Golden Boot. The likes of Ilkay Gundogan, Jack Grealish and Riyad Mahrez are also chipping in with their fair share of goals.

With five victories in their last six matches in all competitions – they face Nottingham Forest next on Saturday (11 pm kick-off, Singapore time) – City are hitting top gear at the right moment. It’s little wonder why they are now the bookmakers’ new favourites to win the EPL once again.

Arsenal far from down and out

For most of the last 20 seasons, Arsenal were rarely in the title picture in the middle of February. They had fallen so far down the pecking order that the main question was if they would even finish in the top four. Last season, the Gunners only managed fifth place, losing 13 games and ending 24 points adrift of champions City.

The fact that this very young Arsenal team remain very much in the race this time speaks volumes of the immense progress they’ve made under manager Mikel Arteta.

Arsenal began the season on fire. They have occupied the top spot since mid-August and held on to pole position with a vice-like grip, only to see their lead evaporate after a dismal run of two defeats and a draw in their last three matches.

The good news for Arteta and his men is there is plenty of time to turn things around, starting with a somewhat tricky trip to Aston Villa on Saturday (8.30 pm kick-off). Arsenal also have a slight upper hand thanks to their one game in hand, and they simply cannot afford any more slip-ups.

With City also facing a fixture pile-up in the coming weeks, Arsenal must be ready to pounce should the new leaders stumble.

Red Devils an outside bet?

While all the talk is on whether Arsenal or City will win the league, it’s not out of the question that a third contender, Manchester United, could have a say in the destiny of the championship.

No one could have expected United to be in third place at the moment, after their calamitous start to the season when they lost their first two games to Brighton and Brentford.

But manager Erik ten Hag has transformed his squad into one of Europe’s most in-form teams, spearheaded by a bucketful of goals from Marcus Rashford. The English striker found the net against Barcelona in the Europa League play-off on Thursday for his 22nd goal in 35 appearances this season.

United are five points behind the top two, and it’s not an insurmountable margin. With City still to play Arsenal once more in April, at least one of them is guaranteed to drop some points. That should be enough motivation for the Red Devils - whose next opponent is Leicester on Sunday (10 pm kick-off) – to rack up more wins, and pile on the pressure.