AS IT HAPPENED: Missing pilot found by US; Clock ticks on Trump's 48-hour deadline; 93 service stations fined in price-gouging blitz

That concludes today's live blog.

Here's what happened.

The US has found a downed airman shot down behind enemy lines.

Donald Trump said the service member rescued in Iran is injured but "will be just fine".

Trump set a 48-hour deadline for Iran to either strike a deal or reopen the Strait of Hormuz. Iran, however, is showing no signs of yielding to the ultimatum.

Closer to home, Aussies have been told to report price gouging by petrol stations, amid warnings groceries may climb by 20 per cent in price.

BAPCO Energies said in a statement on Sunday that the fire was extinguished and that no injuries were reported.

It said emergency response teams responded immediately in close coordination with authorities to contain the fire.

It added that damage to the storage facilities is now being assessed.

Kuwait's Finance Ministry said Sunday's drone attack resulted in "significant damage" to its office complex in Kuwait City.

It said no casualties were reported.

Iranian drone attack takes out water desalination plant and 2 power plants in Kuwait

Kuwait's Electricity Ministry said in a statement on Sunday that damage to the facilities was "significant."

The ministry said the attack resulted in two power generation units to be taken out of service.

No injuries were reported.

Mizan Online, a media outlet for Iran's judiciary, said on Saturday that Mohammad Ami Biglari and Shahin Vahedparast had been convicted on charges of taking part in an attack on a military facility, setting fire to it and attempting to reach its arms depot.

It said the two men were hanged after the country's Supreme Court upheld a lower court death sentence.

A crackdown on nationwide protests in January resulted in the death of thousands of people and the arrest of thousands more.

US President Donald Trump said the United States didn't confirm the rescue of the first aviator from the F-15 fighter jet that was shot down in Iran on Friday "because we did not want to jeopardise our second rescue operation."

In his social media post early Sunday, Trump said the second aviator "was behind enemy lines in the treacherous mountains of Iran, being hunted down by our enemies, who were getting closer and closer by the hour."

US President Donald Trump said a service member rescued in Iran is injured but "will be just fine."

Trump said in a social media post early on Sunday that the aviator took refuge "in the treacherous mountains of Iran."

He said the rescue involved "dozens of aircraft" and that US had been monitoring his location "24 hours a day, and diligently planning for his rescue."

US President Donald Trump has lauded the high-stakes operation to capture the missing US airman who was stranded in Iran after his fighter jet was shot down.

Taking to Truth Social, Trump said it was "one of the most daring" operations in US history to recover the colonel, and proved that America has air dominance.

You can read his whole Truth Social post below.

A US pilot missing in Iran after his fighter jet was shot down has been rescued by a team of special forces, US military officials have confirmed.

The officials, speaking to Associated Press and others anonymously, said the pilot was now safe and well in US custody.

It comes after a frantic search-and-rescue operation. The crew member has been missing since Friday, when Iran downed a U.S. F-15E Strike Eagle. A second crew member was rescued earlier.

Aussies hoping for an Easter reprieve from high petrol prices are likely to be feeling disappointed.

Crude oil futures have soared to $US111 a barrel - the highest seen in more than four years.

Much of the soaring prices comes from the continued tension over the Strait of Hormuz and whether Iran will allow access to US-friendly ships.

While Aussie petrol prices are not directly tied to the price of crude oil, the benchmark price affects all commodity markets given the widespread influence high fuel prices has globally.