The new charges - to be introduced on November 4 - means council car park charges in the city centre will be aligned with the vast majority of privately-owned car parks and reflect the increase in costs to run the service.
Customers are being made aware through signage at the car parks and the new prices will be updated here City centre car parks.
Seasonal parking permits are available on all city centre car parks and discounts apply at 10% per quarter, and 20% per annum. A discount of up to 25% is also available for those purchasing business permits.
Having well-maintained car parking facilities to serve customers coming in is an important part of Wolverhampton's future development and builds on the major investment being made in the city centre.
City of Wolverhampton Council-owned car parking spaces currently account for 41.8 % of the city centre provision.
The prices have been zoned so they remain cheaper outside of the city centre and other incentives will be considered to encourage visitors in too.
It is important to point out that like other councils, we are facing significant financial challenges, needing to save £32.6 million over the next three years.
The new charges, which are comparable with neighbouring local authorities, are expected to generate an additional £1m a year towards the budget challenges.
This money will also help protect critical frontline services and provide support for the most vulnerable and needy in the city.