How do I extract a value in excel that meets multiple row and column criteria?

If the dates in column A are sorted ascending, then you can use the following formula in cell G2 and copy down.

=LOOKUP(2,1/(B:B=E2),C:C)

Check out this article for something similar.

This is a fairly quick attempt to solve your problem..

First, make sure your date values are actually formatted as dates (ie. 08/20/2020)

then in Column F you can use:

=MAX(IF($B$2:$B$15=$E2,$A$2:$A$15))

to find the latest date for each tank read.

Then in Column G use:

=INDEX($C$2:$C$14,MATCH(1,IF($A$2:$A$14=$F2,IF($B$2:$B$14=$E2,1)),0))

to find the value for each tank on the date of the latest read.

I would suggest you make use of ranges so that you can insert lines and automatically increase the date range etc.

It might not be too hard to combine the two seperate formulas above into a single one. But this way you can see what is happening and I thought the latest read date for each tank could be useful?

In case when dates aren't sorted you can use INDEX / AGGREGATE functions:

=INDEX($C$2:$C$14,AGGREGATE(14,6,(AGGREGATE(14,6,($A$2:$A$14)*($B$2:$B$14=E2),1)=$A$2:$A$14)*(E2=$B$2:$B$14)*ROW($C$2:$C$14)-1,1))

You can also use user-defined functions.

Function myTemp(s As Range)
    Application.Volatile
    Dim vDB
    Dim myS As Single
    Dim myDay As Date
    Dim i As Long, r As Long
    
    vDB = Range("a1", Range("c" & Rows.Count).End(xlUp))

    r = UBound(vDB, 1)
    For i = 2 To r
        If vDB(i, 2) = s Then
            If vDB(i, 1) >= myDay Then
                myDay = vDB(i, 1)
                myS = vDB(i, 3)
            End If
        End If
    Next i
    myTemp = myS
End Function