Taylor awarded Blues star Eden Hazard a penalty after he clashed with Hector Bellerin. Replays showed Bellerin made minimal contact with the Belgian.
With Arsenal scoring just four minutes prior to the penalty, Hazard's subsequent equaliser killed off the Gunners momentum and Wenger believes Taylor's decision might have influenced the outcome of the game.
"A fantastic football game," he told Sky Sports. "The regret we have is we were first to score and after that we have a farcical decision. We looked like we were mentally shot and could have lost the game - we had the resources to come back to 2-2. Maybe it was a fair result.
"Look, since the start of the season it is what we have to take. I say it's a farcical decision - you could give 10 penalties like that a game. You read the foreign papers what they write about that and the English papers and you will see a difference.
"Games are spoiled by factors you cannot determine - we can only continue to play the way we want to play and hope things go for us.
"It's all opinions. But when your opinions go the same way - what is repeated is not coincidence. I'm happy with the quality of our games."