The plans are part of the latest financial report for the authority’s cabinet which meets on July 15 for the first time since May’s local elections.
Dudley is battling to stave off a financial crisis which could see the council being declared effectively bankrupt.
Strict spending restrictions and new ways of raising cash are among the items on the agenda for the cabinet meeting.
The same proposals will also be discussed at a meeting of the full council on the same day.
If approved the council would reintroduce charges on its car parks where the first two hours are currently free.
The new charges would be £2 for an hour, £2.50 for two hours, three hours would increase from £2 to £3, four hours would rise by £1 to £4 and an all-day ticket would go up from £5 to £6.
The hike, if approved, would add an expected extra £980,000 to the council’s coffers in the current financial year and £1,960,000 to every full year in the future.
The joint report, from the council’s chief executive, Kevin O’Keefe, and chief finance officer, Iain Newman, said: “It is recommended that approval is given for the director of the environment to progress with on-street parking charges and charges on currently free car parks in town centres during 2025/26.
“This will take place following scrutiny by the Environment Select Committee, consultation in each area and agreement on fees and charges in consultation with the cabinet member for environment.”
Cabinet members will also discuss the progress of a review of how the authority operates which is seen by the council’s leaders as vital to delivering the savings required.
In a report on the new operating model, the council’s deputy chief executive, Balvinder Heran, said: “Whilst pressures are being experienced by councils across the country, the issue is particularly urgent for Dudley.
“Whilst the council was technically able to set a lawful budget for 2024/25, it left very little scope to meet any unexpected pressures.”