Should I show the discounted price directly on the PDP?

As an e-commerce manager, I'm struggling with whether displaying the discounted price directly on my product detail pages (PDP) will drive more conversions or potentially create customer skepticism. I want to understand the psychological and strategic implications of showing original and discounted prices, and how this might impact customer perception and purchasing behavior. My goal is to maximize conversion rates while maintaining a sense of value and transparency in my pricing strategy.