Piastri will start the British Grand Prix from fifth but was frustrated by the management of his final run in qualifying.
“In Q1 we were very quick,” he observed.
“I did my lap a lot earlier than everybody so I think we were good.
“Q2, again, we went a bit early and we were good.
“And then Q3, for the last run, we just left it way too late and I opened my lap about half a second behind Carlos [Sainz], so helpful for the straights, not helpful for the corners.
“Just some things to review there because I think we had more potential than we showed today.”
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It’s been a frustrating time for Piastri who last week lost his best lap in qualifying for the Austrian Grand Prix for track limits.
That left him seventh at the start and, potentially, cost him a shot at a maiden grand prix victory as he fell just short of catching race winner George Russell.
“This weekend is a very different frustration,” Piastri said of his Silverstone experience.
“Last weekend’s frustration was reignited yesterday, but today was on us as a team.
“Yesterday was a bit of a difficult day for a few reasons, but I think through qualifying it was looking good,” he added.
“Just got it a little bit wrong on my first push lap, and then the second one, we just got it massively wrong with the timing of leaving the pits.
“That’s just a shame we didn’t get to have another attempt when it really counted.”
Mercedes locked out the front row with Russell on pole ahead of Lewis Hamilton.
The silver cars proved quick on Saturday in Silverstone, while Max Verstappen will line up fourth.
The Dutchman had a scrappy qualifying session by his own standards as he fired it off the road at Copse, bouncing through the gravel and damaging the floor on his car.
With that expected to be repaired in time for the race, Piastri suggests there’s five drivers capable of winning the British GP.
“We’re all very even to be honest,” he said.
“I think the Mercedes looked very fast, I think they had a good day yesterday and in the rain this morning, they looked quick.
“Clearly, they were very quick [in qualifying], so I think they’re one of the quickest, if not the quickest at the moment.
“Max, I imagine has more in the tank, because I can’t imagine his floor looks great after going through the gravel.
“So yeah, I think the five cars, they’re very evenly matched at the moment, so it’s going to be about who maximises the opportunities tomorrow.”
The British Grand Prix begins at 15:00 local time (midnight AEST).
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