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They're definitely showing you historical prices from their cache. Kayak gets such a huge volume of traffic that they can use the lowest price on that route seen in the last 24 hours and have pretty good coverage/accuracy.

Personally, this thread is eye opening because I work on a similar product. I saw this when it came out (a couple weeks ago maybe). My first impression wasn't that it was particularly impressive, but apparently I just don't know what's cool for users in a travel product =P

The novice sometimes has "the potential" fogging their view of reality. While for the expert, sometimes the shadow from what-is-lacking mountain covers both.

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