The Clarets boss, whose side have been one of the most impressive away from the top group, was speaking about Leicester City's run to the title in 2016.
Burnley, who are four points adrift of sixth place, are facing a difficult challenge to "narrow the gap" on their counterparts, according to Dyche.
"I think it is very difficult," he told the Lancashire Telegraph. "We saw with Leicester that it is not impossible, but improbable. Nothing is impossible in football. But sometimes probability outweighs possibility.
"The way it is going is it is harder and harder. Forgetting about the quality of coaching, if you have a team like Man City spending £100m on three full-backs that is an interesting thing.
"If you are buying in the highest end of the market constantly, in any walk of life, there is a fair chance it is going to operate in a higher fashion."