Cuts to the fuel excise, tax cuts and welfare prop ups unveiled in the last coalition budget in March are all due to end in the coming months.
Mr Chalmers says the new government is being upfront with people about the cost of living crisis, as he continues discussions with cabinet ministers and the energy sector about how to respond to increasing energy costs.
"Our job as the new government and my job in the October budget will be to bring down a cost of living package that encompasses areas like childcare, like cheaper medicines, like our efforts to get power bills down," he told the Nine Network on Thursday.
But he would not commit to pulling the government's gas trigger - enacting the Australian Domestic Gas Reservation Mechanism - to shore up domestic supply.
"I don't want to pre-empt any of those kinds of discussions," he said.
"It has its own challenges and it is not immediate. There is a series of processes that we would need to go through.
"We need to be upfront and recognise that there is not one thing that we can do to fix this overnight."
Pulling the trigger could upset partners reliant on cheaper Australian gas, as prices in the international market spike due to a reliance on Russian gas with many long-term contracts locked in at cheaper rates.
"That is one of the challenges that the government and others would have to grapple with if we went down that path," Mr Chalmers told Sky News.
"I'm not suggesting ... we will go down that path. I'm saying that that's part of the discussions and deliberations that need to happen now."
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