About three weeks ago, the skin on my penis below the glans that is usually rolled up when my penis is flaccid became very dry. I tried to apply lotion, which usually helps with that sort of thing, but it stung badly. About a week after that, the top layer of skin started coming off, exposing the skin underneath. My penis became itchy and painful.

If I leave my penis alone, it develops the dry skin again, and isn't uncomfortable at all. If I masturbate, the skin breaks and it becomes painful and then itchy. If I shower, the top layer of skin comes off and it becomes exposed. I think if I left it alone for a couple of weeks, it might clear up, but I'd rather try some kind of treatment to speed it up and lessen the discomfort.

I don't know what this is. It can't be an STD. I'm 22 and I've never had a problem like this before. What could this be? Is there anything I can do to treat this? I don't want to go to a doctor and find out this is something fairly routine!

Sounds like a yeast or fungal infection. See a doctor or get a tube of cream from a pharmacist. Use condoms for a while. Both you and your sexual partner (if you have one) should get treated at the same time but the infection does not have to be caught sexually. You can catch it from the general environment.
Geoff

Thanks for the reply! Today I was actually thinking it might be a fungus because of how the skin/stuff keeps growing back. I think I'll get some anti-fungal cream and see how that works out.

Thanks for the reply! Today I was actually thinking it might be a fungus because of how the skin/stuff keeps growing back. I think I'll get some anti-fungal cream and see how that works out.
Make sure it's cream designed for genitals, not feet. There are plenty of creams designed mostly for women that will fix both fungal and yeast problems.
Good luck,
Geoff