There is another method that nobody has mentioned yet, MIR or Microwave Impulse Radar.
This was a spin off technology from a related LLC project a few years ago, which had not quite worked out as planned. LLC also wanted a gazillion dollars plus a shot of your wife whenever they felt like it just to get involved in the licensing talks!
Eventually there were a couple of sensor companies that took up the license, one of which was Bindicator if I remember correctly.
However as I also remember, LLC used the term "Prototype development idea" to escape any comeback from it not working properly as described, despite it's costs. I also remember hearing of various law suits being mentioned about a year or two after I walked away from it. I think Bindicator did eventually get the idea working properly though, but I have no idea how or what they did to achieve it.
It's operating principal was basically that a narrowband, low power signal was bounced off a launchplate at the top of a stainless steel or titanium rod, or weighted cable, and a TDR reading taken, this gave a starting time, or top of tank reading. The next largest reflection seen would be that of the liquid level, the next largest would be the end of the sensing element, or bottom of the tank. The time taken between the first two readings or last two readings was proportional to the height of the liquid in the tank. There were other claims too, in that each device used a random gating signal so that each "chirp" sounded sufficiently differently to allow more than one device to be used within the same location. There was a very small dead band at the bottom of the sensing element, but that didn't matter to my application.
All of the methods I had looked at the time had drawbacks that made none of them suitable to my application. I had varying temperature of and aggressively corrosive liquid, build up of scale, high turbidity etc. MIR seemed like a perfect solution as it was allegedly, impervious to these problems.
rgds