Liverpool was the better side for most of the match and looked to have sealed the points when Steven Gerrard fired home a long-range effort in the second half, but a remarkable finish from Sergio Aguero capitalized on some poor goalkeeping from Jose Reina to rescue a point.
The 48-year-old was annoyed by the referee's failure to see a foul on Edin Dzeko in the build-up to Daniel Sturridge's goal which leveled the scores at 1-1, but accepted it was a fair result.
"Before their first goal there was a big fault," he told Sky Sports. "If it happened against us it would be a red card but instead the referee didn't see anything. But in the end I feel that was the right result."
Mancini doesn't feel Liverpool was obliged to put the ball out as Dzeko lay injured and insists the responsibility to stop the game lay solely with the officials.
"Probably [Liverpool should have put the ball out] because after this foul there was 15 seconds, but no this can happen. I think it was a foul and probably a yellow card, the rules are the same for everyone," he went on. "The referee was perfect for 10 minutes, all the fouls for Liverpool, every time flag, flag, flag, but he didn't see this."
Mancini admitted it was a damaging draw, however, the City boss refused to rule out his side's chances in the title race altogether.
"No, [it's not over]," he added. "Thirteen games to the end is long. Seven or nine points don't change, I think we can recover it."