Toddler's penis hurts "Updated 7/5/12"

A bit of TMI ahead.....

My 22 month old son, who is circumsized, has been grabbing at his diaper lately and today he said "it hurts" and for about 2 days or so, he's been freaking out when we change his diaper, especially when we clean his penis off.  He just got over some rally nasty diaper rash, so we thought that's all it was, but now, the diaper rash is gone, but he's still amazingly sensitive around his penis and sack area and whines and squirms around.  The area around the head was a little red yesterday, but only just a little more than the usual pinkish coloring. 

The first day we really noticed anything, he was "hard" and it seemed larger than usual... almost like it was swollen, but not disproportional at all.  But it hasn't looked like that since.  I'm not sure if he's just "growing" in that area or what.  Hubby says that it does hurt during "growing times" just like any other body part, (which I had no idea, obviously) but he's concerned too, so I'm not sure what to think.

Also, he has been peeing a lot, but he's been drinking a lot of liquids (I figured it was just the heat) but his pee is clear as usual.  So, I don't think it would be a UTI if his urine is clear... would it?

Tomorrow's the holiday, so we'll have to wait until Thursday to call the Dr.  I was wondering if anyone had any advice on what to do / try in the meantime... or if it's anything to worry about or not?

****Updated 7/5/12****

Got him into the Dr's office today.  Looks like it's a yeast infection.  Got a script for a lotion to put on it and Doc said it may take a few days to maybe even a week or so to fully clear up.  Need to try to get him potty trained (which we've been working on) and that will help to keep this from happening as well.

Doc said since he's peeing and drinking equally, he's not too worried about a UTI or diabetes... yet... but to keep him on just water, no flavor, to watch his drinking habits with water only.  Since it's been so hot and he's an outdoor kid, him drinking a lot and peeing a lot is not unusual... but if things change, then he'll take a urine sample.  But in the meantime, the lotion he prescribed should take care of things.

Thanks to everyone for your comments and advice!  If anything changes and he doesn't get better, I'll let you all know.

***Updated 7/15/12***

Just so you all know, the cream that the doc prescribed (Nystatin Cream) seems to have worked well.  Everything looks cleared up and he's not giving us a fit during diaper changes.  We have been trying to get him to pee in the potty too and he seems to be taking to that as well.  So, looks like it was a yeast infection.  Just to recap, the main thing that the doc noticed was little pinkish-red spots... not very prominate, were around the main stem of his penis, just below the head.  There were also some red spots on his body around the base, before reaching his penis (if that makes sense) and it actually, to me and DH, looked just like a very light diaper rash.

Hope that may help someone else if they come across the same issues.

Thanks for all the support!