City had an early lead through Erling Haaland before Arsenal fought back through goals from Riccardo Calafiori and Gabriel Magalhaes. Arsenal then had Leandro Trossard sent off on halftime.
The Gunners sat deep in the second-half and it wasn't until on 98 minutes that substitute John Stones scrambled home a City equaliser.
“Many, many things happened, they delayed the game, we behaved really well and still have this passion inside to fight the contender to steal our Premier League,” Guardiola said.
“Still we are there. We started well, scored a fantastic goal and then conceded. We know that Arsenal are really quick with (Gabriel) Martinelli and (Bukayo) Saka.
“(Riccardo) Calafiori makes an exceptional goal, the second goal we didn’t defend well, give credit to them.”
Gabriel’s goal was checked for a foul by VAR and, on the incident, he added: “It happens to all the clubs, not just City. They block a lot of players; always they block.
“Gabriel is so strong in that position. It happens every game and they are able to do it.
“After, 10 against 11 is (a) different (game). They defended so deep and we can cross but it’s not easy with (Ben) White, Gabriel, (William) Saliba. They defend really good.
“We were so smart to not make quick actions and not concede fouls. Long balls, crosses, don’t touch them. That is good because the game continues. We could have scored before, we scored at the end. It’s a good point for us.”
Guardiola also said: “The space is not there in between and they defended really well,” he said. “Kovacic and Ruben (Dias) is the option for the shot but they are not the best.
“Maybe it would have been different with Rodri. I thought to put Ruben on the right but I doubt it. (We couldn’t win) crosses except Erling and maybe John, they are stronger than us.
“The most important thing in that position was when Raya had the ball and Havertz challenged, we didn’t make fouls.
“Fouls would have taken one minute and been a long ball. We were so smart and brilliant to interpret these things. That’s a question of talent.
“Raya made two or three saves that the second ball was not with us and then John was there. It’s chaos and a little bit lucky. It’s difficult.
“Congratulations to Arsenal for being so strong mentally to block for a long, long time. That’s not easy but we were patient.”