Hello,
I cannot confirm anything without examination but it sounds like a fungal infection. Oral course of antimicrobials is needed. In addition, please don’t use any cosmetics on the penis, instead use some topical antimicrobials like Bacitracin or Lotrimin. Also corticosteroids and topical immunosuppressants can be used but they are available under prescription. Also retract the foreskin daily and soak in warm water to clean penis and foreskin. In case the symptoms persist then please consult a urologist/dermatologist for evaluation and antimicrobials and steroids prescription.
Hope it helps. Take care and regards.
Also the head of my penis itches