The Reds are now in third but their spot in the Champions League qualification spots is under threat with both Manchester City and Arsenal breathing down their necks, which isn't helped by the fact that they have taken just four points from the last nine available.
One win from its last two matches, at home to West Bromwich Albion and away to Watford, should be enough for City to finish at least in fourth place.
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Here's a look at that eventful day, when City were crowned the champions of the 2013/14 Premier League season.
Manchester City's Gabriel Jesus celebrates scoring during the English Premier League soccer match between Manchester City and Leicester, at the Etihad Stadium, in Manchester, England, Saturday May 13, 2017.
City has had problems dealing with Leicester's counter-attacking style and pace on the break, losing 3-1 at home last season and then 4-2 in December.More news: Macron's parliamentary candidates gather in Paris
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'We'll know more in the next 48 hours, ' said boss Arsene Wenger.
The question is: Have they left it too late? This will be an important game to allow them to get a win over a big team and maintain their position as second on the ladder.
Put simply, if Arsenal and Liverpool finish on the same points, goal difference and goals scored, they will play each other on a neutral ground and the victor of which will secure Champions League football.
City has 72 points, Liverpool 70, and Arsenal 69.
The Reds' Champions League fate rests in their own hands, as they can clinch third place by winning their remaining games.
Shane Long blazed a penalty over the bar for Southampton, before Patrick Bamford reduced already-relegated Middlesbrough's deficit with his first Premier League goal.