Optical packet switching is an upcoming and promising technology that can be used in optical data centers and in next generation data transfer due to the enormous bandwidth of optical fiber. In recently proposed OPS design to resolve contention among packets fiber delay lines (FDLs) based buffering is preferred choice. In this paper. a dual buffer based optical packet switch design is proposed, where buffer sizes are chosen intelligently thus allowing storage of large number of contending packets within limited buffer storage. Hence, using a limited number of FDLs very low packet loss rate is possible.Through simulations, it has been shown that at the load of ``0.9{''} a very' low packet loss rate of the order of ``10(-)(10){''} is possible.To the best of our knowledge, this is the lowest packet loss rate using FDLs till date in any switch design.The proposed switch design is also compared with recently published designs to prove its superiority over other designs. The analysis of the switch is done in terms of power budget analysis, cost analysis, and packet loss performance under different buffering conditions.