Why is my penis very red, dry, and it's itchy?

Red, itchy penis: Red, itchy penis can be caused by several factors. It could be a reaction to something that the skin has had contact with - like a new soap or detergent or spermicide. It could be a sign of either a viral infection - like herpes - or a bacterial or fungal infection. A person who has this problem should go to their primary care doctor or urgent care for evaluation.