I completely agree with you. There are benefits to me as a user to having access to the information (how much is my travel costing me, when did I go visit that shop out in the suburbs, etc), so you can't blankly say there is no reason to store the data.

However, I agree the data should be kept private. Unfortunately, in the US, you know it wouldn't be; I can't imagine Australia will be, either.

If you do want the privacy, anonymity and cash are still your friends.